Q&A What is blockchain?

At a very high level, the blockchain is a decentralised ledger, or list, of all transactions across a peer-to-peer network. This is the technology underlying Bitcoin and other cryptocurrencies, and it has the potential to disrupt a wide variety of business processes.

Using this technology, participants can transfer value across the Internet without the need for a central third party. The buyer and seller interact directly without needing verification by a trusted third-party intermediary. Transactions are not anonymous, but they are pseudonymous: a transaction record is created, but identifying information is encrypted, and no personal information is shared.