CONTRIBUTOR To print this article, all you need is to be registered or login on Mondaq.com. The immutable nature of the data stored in a DLT leads to a host of applications across different sectors. The best known application is that of cryptocurrencies, such as Bitcoin. Indeed, it was in Satoshi Nakamoto’s 2008 white paper ‘Bitcoin: A Peer-to-Peer Electronic Cash System’ that the author first set out the technical basis for today’s blockchain network. The blockchain infrastructure removes one of the core obstacles to a decentralised payment system, namely that of the ‘double spend problem’ in which a user may spend the same digital coin or token multiple times in payments to different parties.
