What is meant by blockchain technology?

Blockchain technology is a digital, distributed ledger system that records and stores data in blocks which are linked together and secured using cryptography. It is used to maintain secure, distributed ledgers of digital transactions across multiple computers. The technology provides a tamper-proof and immutable record of activity that is transparent and easily verifiable. It offers businesses a secure way to store and transfer sensitive information without the need for a centralized authority or intermediary.