Blockchain technology is a system of recording transactions via an immutable ledger. Assets can be traded and recorded via blockchain technology immediately and transparently. Each record of a transaction is a 'block' of data. These blocks are connected to the data or 'blocks' that have come before it, forming a chain of data as an asset moves from place to place or changes ownership. The blocks confirm the exact time and sequence of transactions and link securely together to prevent any block from being altered, ensuring the security of this data within the blockchain.