Blockchain is the best known distributed ledger technology. A ledger is a database which keeps a final and definitive record of transactions. Records, once stored, cannot be tampered without leaving behind a clear track. Blockchain enables a ledger to be held in a network across a series of nodes, which avoids one centralised location and the need for intermediaries’ services.
This is particularly helpful for providing trust, traceability and security in systems that exchange data or assets. There is a lot of potential for blockchain to be used in many different areas such as financial services, supply chains or healthcare.
Article Source: https://ec.europa.eu/digital-single-market/en/news/how-can-europe-benefit-blockchain-technologies