It's an innovative system that has the potential to revolutionize how transactions are recorded, stored, and transferred today. But before we dive deep into it, let's first go over the basics. First of all, what is Blockchain Technology? Put simply, it's a distributed ledger technology that enables peer-to-peer transactions without using a centralized authority. To put it another way, blockchain is a digital ledger of economic records that is shared among participants and constantly updated in real-time. It works on the concept of decentralization, meaning that data is shared and stored on an interconnected network of computers instead of being held in one central location.