Blockchain technology is a digital ledger system for recording and verifying transactions, which are secured and maintained by a distributed network of computers. This technology has been around since 2009, when it was first used to create the digital currency Bitcoin. Blockchain is based on a decentralized, distributed public ledger, which means that each transaction is securely recorded and stored on many different computers at the same time. This allows for greater transparency and trust between users, as well as faster, more secure transfers of data.