Blockchain in 5 minutes final

This document provides an introduction to distributed ledger technology. It explains that a distributed ledger is a shared, immutable record of transactions that is maintained across multiple nodes in a network. It describes how merging individual transaction records into a single shared ledger reduces the need for reconciliation between parties and decreases auditing overhead. The document also discusses how adding cryptography and distributing copies of the ledger to all participating nodes improves security, auditability, and resilience. Finally, it notes some additional applications of distributed ledgers, such as tracking assets, linking to documents, and enabling smart contracts to automate processes.