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Shared record
The basics

Shared record

A single version of information that all participants in a network can see and contribute to simultaneously. Currently, organizations maintain their own versions of events and reconcile differences after the fact.

TradFi equivalent
In traditional finance...
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TradFi equivalent
A centrally cleared trade. Once a trade is confirmed through a clearing house, both counterparties are working from the same confirmed record rather than their own separate versions.
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Analogy
In everyday terms...
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Analogy
Wikipedia. No single author owns it. Anyone connected can contribute, and the version everyone sees is the same one. Disagreements get resolved by the community, not by a central editor with final say.
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