Blockchain is a digital ledger that records transactions in blocks linked together in a chain. Once recorded, data cannot be altered without changing every subsequent block — making it virtually tamper-proof. No single entity controls it; the network collectively validates transactions.
In finance, blockchain enables: cryptocurrencies (Bitcoin, Ethereum), smart contracts (self-executing agreements), DeFi (decentralized finance), and tokenization of real assets. Major banks like JPMorgan (JPM Coin) and HSBC use blockchain for cross-border payments. Settlement that takes 2-3 days through traditional systems can happen in minutes on blockchain.
The global blockchain market in financial services is projected to reach $79 billion by 2030. Central banks worldwide are developing CBDCs (Central Bank Digital Currencies) — India's e-Rupee, China's digital yuan, and the EU's digital euro. Blockchain is not just crypto — it is fundamentally reshaping how financial infrastructure works.