So, what is the Blockchain?

The Blockchain is a modern, math-based technology whose revolutionary power is comparable to that carried by the Internet during the early 1990s.

The technology was first mentioned in 2008 and became known for its role as Bitcoin's underlying technology, crucial to solve the so-called “double-spending” issue and ensure reliability and authenticity of all exchanges of value ever occurred.

Put it simply, the Blockchain bundles unrelated transactions into blocks, which are then chained together and broadcast to all the members within the underlying community. In other words, Blockchain-based ledgers function as information storehouses where each participating entity can verify all transactions, thereby eliminating the need for third parties acting as enablers of trust. With its ability to provide transparent, instantaneous and reliable records of transactions, the true potential of the Blockchain still remains virtually untapped.

Below a video that quickly explains what the blockchain is and what areas of application it is likely to engage with in the future.