What is Blockchain? | CNBC Explains

Blockchain is a global online database that anyone with an internet connection can use, but it doesn’t belong to anyone. CNBC’s Tom Chitty explains.

If you’ve heard of bitcoin, you’ve probably also heard of the technology underlying it: The blockchain.

A blockchain is a global online database that anyone with an internet connection can use. Unlike traditional databases — which are typically owned by big institutions — a blockchain doesn’t belong to anyone; and with an entire network of people monitoring it, cheating the system by faking documents, transactions and other information is nearly impossible.