Since it’s first application as the infrastructure for the first cryptocurrency Bitcoin in 2009, The blockchain has been widely recognized both as a disruptive technology in the legal and financial sector, as well as the initiator for the second internet revolution a.k.a Web 3.0, which focuses on Asset & Identity Management where Web 2.0 focused on communication and Web 1.0 focused on information.
The blockchain is essentially a distributed ledger technology, containing transparent transaction records in groups call Blocks which are cryptographically sealed and secure enough to allow for Financial Trust a task which up until today was fulfilled only by the most complex establishments such as banks, credit & insurance companies, lawyers, etc. in order to accept payments, give out loans, transfer asset ownership and more.