Blockchain is a continuous chain of blocks. It contains all transaction records. Unlike regular databases, you cannot change or delete these records; you can only add new ones. Blockchain is also called the technology of distributed ledgers because many independent users store an entire chain of transactions and a current list of owners on their computers. Even if one or more computers fail, the information will not be lost.
Blockchain solutions represent one of the hottest developments in fintech due to the faster execution of transactions without intermediaries, saving money by reducing the need for financial back-office staff, transparency between the parties involved in the transaction, the safety of data due to multiple data duplication, and measures for tracking and reporting in real-time.