Blockchain is not "the new internet", it is even more than that! Believe me!
It is well established and well calculated that in 10 years from now every person on earth will have its own chain of blocks.
Blockchain - a decentralized, digitized public book of all cryptocurrency and business transactions that grows constantly as "completed" blocks that are aggregated and recorded in chronological order. This is also very beneficial and allows market contributors to even track digital currency transactions without the need to keep central records. Each node will get its blockchain copy, which is downloaded automatically.
The blockchain is perhaps Bitcoin's key technological innovation. Bitcoin is not actually regulated by a central authority and, instead, its users validate and dictate transactions when one person pays another for services or goods or whatever, eliminating the need for a third party to even process or store payments. The entire transaction is publicly registered in blocks and in the block chain, where other Bitcoin users retransmit and verify it. A new block is added to the block chain every 10 minutes, through mining.
Extensions of Blockchains
Given the ability and the potential of this distributed ledger technology to absolutely simplify current business operations, on the other hand, new models based on blockchain have already started to replace the inefficient and expensive and accounting and payment networks of the finance industry. Blockchain and its technology could free up billions and billions of dollars.
