Definition: The word "blockchain" refers to a decentralized, shared digital ledger or network of computers that stores and manages transactions and records all assets like financial statements and intellectual property. It's where information about transactions flows without intermediaries, creating an immutable record that anyone can verify. Blocks are created sequentially, representing the latest changes in data. The term "blockchain" is used to refer to a system that uses blockchain technology to secure data exchange and enable trustless transactions.