The full form of DLT is Distributed Ledger Technology (DLT). DLT can be understand as a government license to send bulk sms to the senders, just like you need a driving license to drive a bike or car in your city.
DLT comes in light in 2019, when spams and frauds was on its climax and people was getting unwanted messages in their mobile inbox. To understand people’s griviences, govt had to taken this step.
What Exactly is DLT?
So, let’s first understand what is DLT. DLT is a fraud and spam protection system made by the TRAI, which is a government agency. If you want to send bulk sms in India, then you must have a DLT registration and without this, you can’t send messages.
To get DLT registration is not very difficult. You simple need a GST registration or Shop license, Adhar Card, Pan Card and some other documents. You or any Bulk SMS Service Provider in India from where you have bought bulk sms can do online registration for DLT. The fees is 5000/- plus 18% GST, the total amount is 5900/- .
Once you got registration on DLT portal, then you can create 6 digit sender id and message template. After approving the sender id and templates from the operator, you can send the bulk sms. This is all to stop spam and frauds.
Why is DLT So Important?
- Trust Without a Middleman: Usually, we need banks, governments, or companies to be the “trusted” middleman for important things like sending money or proving ownership. DLT creates trust technically. Because everyone sees the same record and agrees on changes, you don’t always need that middle person. This makes things faster and cheaper.
- Super Tough Security: Once information is added to the dlt portal and agreed upon, it’s incredibly hard to change or delete. It’s like writing in pen in that shared notebook and then locking the page. Trying to alter one copy is useless because everyone else has the original version. This makes fraud very difficult.
- Crystal Clear Transparency : Depending on how it’s set up, everyone in the network can see the history of the ledger. This builds trust because you can see exactly what happened and when. It’s harder to hide mistakes or bad actions.
- Keeps Working, No Matter What: Because the ledger is copied on many computers all over the place, the system is very strong. If one computer (or even many) breaks down or gets attacked, the network keeps running. Your important information stays safe and available.
- Faster & Cheaper: Cutting out middlemen and automating checks with the network can make processes much quicker. Sending money across borders, tracking goods in a supply chain, or verifying documents can happen in minutes instead of days, often costing less.
Where Do We See DLT Today?
Besides, Bulk SMS, DLT registration is also compulsory for:
- Sending Money: Faster and cheaper international payments.
- Tracking Stuff: Following products (like food or medicine) from factory to store, ensuring they are real and safe.
- Digital Ownership: Proving you own digital art (NFTs) or items in games.
- Secure Records: Storing medical records, educational certificates, or property deeds safely and making them easy to share with permission.
- Voting: Exploring ways to make voting more secure and verifiable.
The Future of DLT: What’s Coming Next?
DLT is still growing up, but its future looks bright and full of possibilities:
- Money Gets a Makeover:
- Central Bank Digital Currencies (CBDCs): Countries like the USA, China, and many others are exploring their own digital money, built on DLT. This could change how we all pay for things.
- Smarter Contracts (“Smart Contracts”): These are like digital robots living on the DLT. They automatically do things when conditions are met. Example: Insurance pays out instantly if a flight delay is proven on the ledger. No paperwork!
- Faster Global Payments: Sending money anywhere in the world could become as easy and quick as sending an email.
- Businesses Work Smarter:
- Supply Chains You Can Trust: From farm to fork, or factory to showroom, DLT will track everything. You’ll know exactly where your food or clothes came from and if they are genuine.
- Digital IDs You Control: Imagine one secure digital ID (stored on DLT) for logging into websites, proving your age, or accessing government services. You control who sees what part of your ID.
- Sharing Data Safely: Companies in industries like healthcare or finance could share necessary information securely and privately using DLT, without giving away all their secrets.
- New Ways to Own and Create:
- The Token World: Everything from concert tickets and game items to shares in a building could become digital “tokens” on a DLT. Buying, selling, and owning things gets easier.
- Artist Power: Musicians and artists can sell their work directly to fans using DLT, getting fairer pay and proving the work is original.
- Government Gets More Efficient:
- Land Records: Property ownership records on DLT could end disputes and fraud.
- Transparent Spending: Citizens might track how tax money is spent more easily.
- Secure Voting: While tricky, DLT could potentially make elections more secure and verifiable in the future.
Challenges on the Road Ahead:
The future isn’t without bumps:
- Rules & Laws: Governments are still figuring out how to regulate DLT fairly.
- Scaling Up: Making DLT networks handle millions of transactions super fast is hard work.
- Using Energy Wisely: Some older DLT systems (like Bitcoin’s original setup) use lots of electricity. Newer versions are much greener.
- People Need to Understand: DLT is complex. We need simpler tools and better education for everyone to use it easily.
The Bottom Line: Why DLT Really Matters
DLT is important because it offers a new way to build trust, security, and efficiency in our digital world. It solves problems we’ve struggled with for years – like relying on slow middlemen, fighting fraud, and keeping systems running no matter what.
