Fit-for-purpose assessment
Proposed ledger uses are assessed against simpler alternatives, asking whether multiple parties truly need a shared record without a trusted operator.
GCRI · Digital Public Infrastructure
Distributed ledgers for public use
Distributed ledger technology records transactions across multiple parties without a single central database. In this field it is assessed critically for public uses such as registries, credentials and payments, where its benefits must be weighed against cost, governance and privacy.
01Contents
Distributed ledgers for public use in five parts.
02Application
What distributed ledgers and digital assets does here.
Distributed ledgers and digital assets use shared, replicated records maintained by consensus among participants. They support new forms of payment, asset registration and contracting, with distinct operational and financial risks. In digital public infrastructure and cyber and digital resilience, ledger analysis informs how digital asset failures could spill into payments and markets. It supports evaluation of ledgers for transparent registries and aid distribution. The canonical description is on the STEM Commons.
Privacy and erasure constraints
Ledger designs are reviewed for compatibility with data protection, including the right to erasure, which immutable records complicate.
Governance of permissioned ledgers
Who may join, validate and change rules on permissioned ledgers is documented, since governance determines trust.
03Monitor
Settlement ledger.
The screen a team would use to follow this method: its measures, states and decisions. Names are examples and values are illustrative.
Settlement ledger
Digital public infrastructure · Distributed ledgers for public use · Run R-5205
ReconciledGCRI · Digital Public Infrastructure
Settlement batches
| B-1273 | 1088 | 263 | Pending | Queued |
| B-0651 | 2372 | 247 | Final | Queued |
| B-0750 | 2418 | 20 | Final | Settled |
| B-2401 | 784 | 871 | Pending | Rejected |
Method card
- Method
- Distributed ledgers and digital assets
- Model
- deferred net, hourly
- Fallback
- manual procedure
- Label
- MODELLED
Intraday liquidity
04Data
What the method consumes.
Datasets and records used by distributed ledgers and digital assets on this platform, with the role each plays and the label its values carry. Sources are listed in the source register.
| Data | Role | Label |
|---|---|---|
| Pilot evaluations | Outcomes | REPORTED |
| Technical specifications | Design | DECLARED |
| Cost data | Comparison with alternatives | ESTIMATED |
05Methods and evidence
How distributed ledgers for public use is modelled, measured and tested.
The model, its assumptions, its data and its uncertainty, in the form a scientist or engineer would check. Structures follow published methods. The values drawn are illustrative, not findings.
Datasets and provenance
The data classes behind distributed ledgers for public use and what is recorded about each before it is used.
| Data class | Provenance recorded | Resolution stated | Licence checked |
|---|---|---|---|
| Satellite imagery, optical and radar | sensor, processing level, acquisition date | pixel size and revisit | per scene |
| Reanalysis and climate model output | model, experiment, member, version | grid and time step | per release |
| In-situ sensors and gauges | station, instrument, calibration record | point and sampling rate | per network |
| Population and asset exposure | method, vintage, input sources | cell size and unit | per release |
| Boundaries and reference geography | producer, edition, date | scale | per edition |
- Lineage
- W3C PROV record from source to figure
- Principles
- FAIR: findable, accessible, interoperable, reusable
- Gaps
- shown as missing, never filled silently
FAIR guiding principles · GO FAIR and FORCE11W3C PROV · World Wide Web ConsortiumGuidance on consistent treatment of uncertainties · IPCCCEOS Analysis Ready Data · Committee on Earth Observation Satellites
06Validation
How results are checked.
Protocols and contracts are checked through formal verification, audits and adversarial testing. On-chain data allow independent reconciliation of balances and flows.
| Check | How it is done |
|---|---|
| Alternative comparison | Ledger designs are compared with conventional databases |
| Data protection review | Designs are reviewed by data protection experts |
| Governance documentation | Validator and change rules are published |
Code defects and governance disputes can cause irreversible losses. Links to the traditional financial system are often opaque.
07Process
How the process runs.
Process explorer · Process
Distributed ledgers for public use: Payment from instruction to finality
8 steps·4 stages
Process
Distributed ledgers for public use: Payment from instruction to finality
An RTGS system checks a payment, queues it if funds are short, settles it gross in real time and gives final settlement.
01 Intake
- 01Payment instructionSource · ParticipantThe system should use, or at least accommodate, relevant internationally accepted communication procedures and standards.
- 04Validity and conditionality checksStep · System operatorA payment is accepted once it passes validity and conditionality checks, such as funds or credit. An invalid payment is generally rejected.
02 Settlement
- 02LiquidityDataset · ParticipantParticipants need liquidity for outgoing payments: central or commercial bank balances, incoming payments and intraday credit.
- 05QueueModel · System operatorA valid payment that fails conditionality checks is queued or rejected. Queuing and other liquidity-saving tools can cut liquidity needs.
- 06Settle in real time, grossStep · System operatorRTGS settles payments continuously, without deferral, usually one by one. Money settlements should use central bank money where practical.
03 Finality
- 07Final settlementRecord · System operatorThe system gives clear, certain final settlement by the end of the value date at least, intraday or real time where needed.
- 08ReconciliationStep · System operatorReconciliation checks that records issued by two different entities match. The pages read state no timing for payment systems.
04 Resilience
- 03Business continuity and secondary siteExercise · System operatorThe plan uses a secondary site and aims to resume critical IT within two hours and settle by end of day. Arrangements are regularly tested.
Outline of an external standard or method, from its public sources. It describes what the framework says, not a record of any run. It does not show that Nexus or any partner performs, certifies or approves a step. A gate is a step of the method, never a Nexus approval. The source is the CPMI-IOSCO Principles for financial market infrastructures. A business continuity plan covers disruption.
08Connections
Topics that rely on this method.
09Stewardship
Who maintains the method.
Fintech Nexus stewards distributed ledgers and digital assets for the Consortium and reviews how it is applied across platforms.
10Connected
Where this page leads across the Consortium.
11Questions
Questions and answers.
What are the limits of distributed ledgers and digital assets in this field?
Code defects and governance disputes can cause irreversible losses. Links to the traditional financial system are often opaque.
How are results checked?
Protocols and contracts are checked through formal verification, audits and adversarial testing. On-chain data allow independent reconciliation of balances and flows.
Are the values on this page real?
The data names, roles and checks are real descriptions of practice. The canvas shows a design of the method's use, not a run; no result is reported here.
Where else is this method applied?
The canonical method page lists every platform that applies it.
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GCRIDigital Public InfrastructureStrategic SystemsExponential Technology
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