What is a blockchain?

Blockchain (BC) is a technology that allows strangers to have trust in each other.
It allows a network of computers to agree at regular intervals on the true state of a distributed ledger. The transactions are recorded chronologically and form an immutable chain. The ledger is distributed, means that its copies exist and are simultaneously updated. The contents of the ledger are encrypted using a crypto token.
And so we can have a consensus about the state and authenticity of the block's content in a decentralized manner.

The important thing here is the trust. The distributed nature of the ledger ensures that no one person or a group of person can break the promise.
To bring home the message, let me tell you about an incidence of my childhood. There was a time when I was a child innocent and one who trusts all. One day I had a bet with my brother (he is elder to me and has a very funny nickname, Tiger). The bet was that if I can eat a spoon full of red chillies, then he will pay me 10 bucks else I will have to give him 10. I hated chillies, but 10 bucks were a big thing then, and I could have purchased so many comic books. Despite, the hate for chillies, trusting that my brother will acknowledge his promise, and if he did not elders will force him to, I mustered all my courage and ate a spoon full of chillies... even now thinking about it, my mouth is on fire!!!
But boom, we had no blockchains then, and so I got nothing!! My wailing, my crying, my tantrums could not fetch me those 10 bucks, that I had rightfully earned.
With blockchain technology, the contract would have been ensured by a program code. Both me and my brother would have submitted the 10 bucks to the program code, and the program automatically and transparently would had transferred the money to the winner. There is no possibility of breaking the contract, it is immutable.
I have tried in this post to explain the concept of block chain without using any technical details. For me the blockchain means there is posibility to be free from institutions and governments, which normally have a tendency to get corrupt in time... And perhaps that is the reason most institutions do not support Blockchain and its derivatve altcoin economy!!
What is your view about it?