A blockchain is a method of structuring data to create an immutable record of all updates to a ledger across multiple organizations. Blockchain is a type of distributed ledger technology (DLT). These terms are often used interchangeably. Not all distributed ledgers employ blocks or chain transactions.
A distributed ledger is a digital record of who-owns-what that can be securely shared to and updated by multiple organizations so that every entity is sure that what they see is what their counterparties see in near real time. But unlike traditional database technology, there is not necessarily a central administrator of the ledger, nor is there the need for a central data store.
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