{"id":9946,"date":"2024-01-21T15:28:22","date_gmt":"2024-01-21T20:28:22","guid":{"rendered":"https:\/\/faisalkhan.com\/?page_id=9946"},"modified":"2024-01-21T15:28:27","modified_gmt":"2024-01-21T20:28:27","slug":"public-ledger","status":"publish","type":"page","link":"https:\/\/faisalkhan.com\/learn\/payments-wiki\/public-ledger\/","title":{"rendered":"Public Ledger"},"content":{"rendered":"\n
A public ledger, in the context of banking and financial services, refers to a system that records and validates all transactions or digital events in a transparent, secure, and immutable manner. It’s essentially an open, decentralized database that is accessible to everyone but owned by no one. The ledger maintains a permanent and tamper-proof record of transactions.<\/p>\n\n\n\n
Public ledgers are typically used in scenarios involving:<\/p>\n\n\n\n
Public ledgers are used through:<\/p>\n\n\n\n
Advantages:<\/strong><\/p>\n\n\n\n Disadvantages:<\/strong><\/p>\n\n\n\n Think of a public ledger like a communal notebook in a library. Anyone can read what\u2019s written (transparency), but once something is written, it can\u2019t be erased (immutability). No single person owns the notebook (decentralization), and entries are made following specific rules agreed upon by everyone (consensus mechanism).<\/p>\n\n\n\n Definition of Public Ledger A public ledger, in the context of banking and financial services, refers to a system that records and validates all transactions or digital events in a transparent, secure, and immutable manner. It’s essentially an open, decentralized database that is accessible to everyone but owned by no one. The ledger maintains a […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":3611,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_uag_custom_page_level_css":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"blocksy_meta":[],"featured_image_urls":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":"","gb-block-post-grid-landscape":"","gb-block-post-grid-square":"","yarpp-thumbnail":""},"post_excerpt_stackable":" Definition of Public Ledger A public ledger, in the context of banking and financial services, refers to a system that records and validates all transactions or digital events in a transparent, secure, and immutable manner. It’s essentially an open, decentralized database that is accessible to everyone but owned by no one. The ledger maintains a permanent and tamper-proof record of transactions. Usage Context in the Banking and Financial Industry Public ledgers are typically used in scenarios involving: Cryptocurrency Transactions: Recording and verifying transactions of digital currencies like Bitcoin. International Money Transfers: Providing a transparent record of cross-border transactions. Trade Finance:…<\/p>\n","category_list":"","author_info":{"name":"Faisal Khan","url":"https:\/\/faisalkhan.com\/author\/nomismad\/"},"comments_num":"0 comments","featured_image_urls_v2":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":"","gb-block-post-grid-landscape":"","gb-block-post-grid-square":"","yarpp-thumbnail":""},"post_excerpt_stackable_v2":" Definition of Public Ledger A public ledger, in the context of banking and financial services, refers to a system that records and validates all transactions or digital events in a transparent, secure, and immutable manner. It’s essentially an open, decentralized database that is accessible to everyone but owned by no one. The ledger maintains a permanent and tamper-proof record of transactions. Usage Context in the Banking and Financial Industry Public ledgers are typically used in scenarios involving: Cryptocurrency Transactions: Recording and verifying transactions of digital currencies like Bitcoin. International Money Transfers: Providing a transparent record of cross-border transactions. Trade Finance:…<\/p>\n","category_list_v2":"","author_info_v2":{"name":"Faisal Khan","url":"https:\/\/faisalkhan.com\/author\/nomismad\/"},"comments_num_v2":"0 comments","yoast_head":"\n\n
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Real-World Examples<\/h3>\n\n\n\n
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Analogies<\/h3>\n\n\n\n
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