Blockchain for General Digital Ledgers

Abstract

The general idea of blockchain has implications in almost every aspect where computers and computation have laid their foot on. However, there are domains where its practical feasibility is challenged by conventional alternatives. One such domain is general-purpose digital ledgers. This includes all ledgers ranging from basic lending to high-scale businesses. The prime impedance to the use of blockchain technologies in the general digital ledger can be attributed to high transactional fees and a lack of available access to the general public. This paper lays insight into a solution to the above problem which will enable the use of a system that offers the robustness of a blockchain system. This system can be used for general ledgers as well as bill settlements.