Blockchain is a digital ledger that keeps record of all transactions taking place on a peer-to-peer network.
All information transferred via blockchain is encrypted and every occurrence recorded, meaning it cannot be altered. It is decentralized, so there is no need for any central, certifying authority. It can be used for more than the transfer of currency ;contracts, records and other kinds of data can be shared.
Encrypted information can be shared across multiple providers without risk of a privacy breach.