Blockchain
A decentralized digital ledger that records transactions across a network of computers in a tamper-resistant way.
Definition
Blockchain is a distributed ledger technology that records transactions across a network of computers so that the record cannot be altered retroactively. Each "block" contains a batch of transactions, and each block is cryptographically linked to the previous one, forming a "chain." This structure makes blockchain inherently resistant to data modification.
Beyond cryptocurrency, blockchain technology has applications in supply chain tracking, digital identity verification, smart contracts (self-executing agreements), NFTs (non-fungible tokens), and decentralized finance (DeFi).
Why It Matters
Blockchain's core value proposition — creating trust without intermediaries — has the potential to reshape how businesses handle transactions, contracts, and data verification. Industries from finance to healthcare to entertainment are exploring blockchain applications.
For professionals in any field, understanding blockchain fundamentals is increasingly important. Whether evaluating vendor claims, understanding client requests, or identifying opportunities, blockchain literacy helps you separate genuine innovation from hype.
Examples in Practice
A luxury brand uses blockchain to create verifiable digital certificates of authenticity for each product, allowing buyers to confirm provenance through the entire supply chain.
A music artist releases an album as a blockchain-based NFT with smart contracts that automatically distribute royalties to all collaborators within seconds of each sale.
A supply chain company implements blockchain tracking so that consumers can scan a QR code on their food product and see every step of its journey from farm to store.