What exactly is blockchain?

Blockchain is a technology that allows information to be stored and transmitted in a transparent, secure, and decentralized manner. It is comparable to a large database that contains the history of all interactions between its users since its inception.

The blockchain can be used in three ways: to transfer assets (money, securities, shares, and so on), to improve asset and product traceability, and to automatically execute contracts (smart contracts). A blockchain can be thought of as a ledger that records all transactions.