Blockchain is a network of digital data blocks that are divided on several computers and encrypted with cryptography. Transaction data are managed digitally, complete transparent and encrypted without an additional central controlling entity. The principle of transparency is based on the fact that every user in the data chain can retrieve any transaction locally. Due to this, no manipulation can be denied or taken back, as there are millions of copies of a transaction recorded.
Originally this technology was developed as an accounting method for digital cryptocurrencies, but it has been further developed and can now be used for other business models. The developments are seen as a future disruptive technology, especially in those business areas where security against manipulation required independent intermediaries until now.