First and foremost, Blockchain is an open distributed ledger, replicated across many nodes in a peer-to-peer network, thereby minimizing the need for oversight and governance of a single ledger. It is a continuously growing list of records, called blocks, which are linked and secured using cryptography.
Due to it being decentralized, no single one party is entrusted with all the information, blockchain essentially self-monitors, providing data reliability and eliminating reconciliation.
Cost and time savings
Increased transparency for individuals, companies, and authorities
Mitigated risk of fraud and disputes
The industries that Blockchain has the potential of disrupting we feel are endless, below is by no means a fully comprehensive list:
