Blockchain is an incredibly simple thing: a record book that everyone can see, and no one can alter. This extremely simple idea has the potential to enabling software and process for business, for finance, and for government.
In a process you always need to trust someone and in the past we used a ledger or middleman.
Blockchain builds trust among parties that normally depend on third parties to verify transactions and ensure legal obligations are fulfilled, it's Blockchain the one building trust. No third-parties, No Middlemen.
You can execute a contract with a vendor without the need for an intermediary auditor. That means buying a house, car, currency or any kind of contract.
If someone wants to send money, ship a product, or sign a contract
They send notification of the action to everyone (peer to peer)
If the transaction is valid, everyone approves it
After approval, the record is updated (in this case, a block is added to the blockchain)
The action happens, and, if it's a payment, the money changes hands
An unchangeable record remains of the transaction, and it's UNIQUE.
