Blockchain is the complete public record of all Bitcoin (a crypocurrency) transactions ever carried out. New blocks are created as bitcoins are mined and utilised.
The most obvious and basic use for this technology is as a payments system that spans the internet and is thus global in scope and does and will cost those who use it virtually nothing to use. The blockchain was started in 2009 and has been running since then.
Blockchain’s strength is that it is tamper-proof, decentralised and immutable could make it the norm for performing many financial sector (including banking and asset management) activities in the future.