Distributed Ledger Technology (DLT) refers to a database that is shared and synchronized across multiple participants in a network. Instead of a central authority maintaining the ledger, like a bank, each participant has a copy. When updates are made, they are reflected across all copies in a secure and transparent manner. This eliminates the need for a central intermediary and increases trust and efficiency. Blockchain, the technology behind #cryptocurrency, is a type of DLT, but DLTs have broader applications in various industries.