Blockchain is a digital payment platform that allows for the permanent and precise recording of two-party transactions. To be more specific, blockchain is a cryptocurrency-only technology that can be applied to any digital asset. It allows multiple parties to trade, share valuable information, and pool their resources in a safe and deceptive manner. Blockchain is regarded as the most recent technology by both business professionals and non-professionals alike. In fact, blockchain has been around since 1991, but it only became popular with the development of cryptocurrencies.

Blockchain technology is a decentralised digital system that records transactions across a network of computers. Instead of relying on a central authority, it uses a shared ledger where each block contains transaction data linked to the previous one, forming an immutable chain. This structure makes the data transparent, secure, and nearly impossible to alter. Blockchain relies on cryptographic algorithms and consensus mechanisms to verify transactions, ensuring trust without intermediaries. It underpins cryptocurrencies like Bitcoin but is also used in supply chain tracking, smart contracts, and digital identity systems. By reducing fraud and improving transparency, blockchain has become a key innovation in finance, logistics, and other industries seeking secure and efficient data management.