Blockchain is a digitized, distributed and secure ledger that guarantees immutable transactions and solves the trust problem when two parties exchange value. ... It is caused by the limitations of the decade-old design of bitcoin and due to Bitcoin's mining process that requires a “proof of work” to validate transactions.
Blockchain has legitimate potential to change the world. As the Harvard Business Review puts it, “Blockchain is not a 'disruptive' technology, which can attack a traditional business model with a lower-cost solution and overtake incumbent firms quickly. Blockchain is a foundational technology.