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This thesis aims to determine the consequences of distributed ledger technology for central banks by identifying benefits, risks and use cases for the technology recognized in central bank publications. The distribution of the network results in several advantages as high resilience that make DLT attractive to financial markets and also to central banks. Existing risks like low confidentiality or determination of settlement finality could be overcome in later experimentation phases. Project teams that were able to combine technological innovation and redesign centralised processes achieved promising outcomes. Projects were mainly exploring the use as wholesale payment system but many other financial use cases exist. More potential is seen for rather complex processes like cross-border transactions. Another central bank initiated project has successfully examined the use for securities settlement and more research can be expected. The results of this thesis also demonstrate an adoption as main payment system soon is unlikely but smaller applications outside of test environments are anticipated in China and Saudi-Arabia.