Blockchain in simple words.

Imagine if you could send money to your friend living miles away without using any bank applications, or basically without any middemen interference, Sounds cool right. Blockchain is something that will allow you to do this. The financial industry relies heavily on the intermediaries or middlemen, it is middlemen based model. The existence of middlemen in making transactions increases the cost.  Blockchain can be applied in any industry, for enhanced security. But we use of Blockchain in financial industry, as Internet currency or crypto currency. Crypto here refers the security or the model that block chain uses, the use of cryptography to enhance the security. One of the critical flaw of Blockchain  is that the model remains safe and secure as long as the majority of the model is controlled by good cryptographers or nodes. Nodes here refer that every transactions taking place over the blockchain is interlinked and connected to each other, for example when  a transaction is made a block is created and is encrypted with a hash or code, further when a transaction is made the previous block is connected to the latest block and the process goes on.  Thus, making the blockchain secure.

Finally,  to finish this a blockchain is a concept when we dig deeper we can see the use of crypto currency such as Bitcoin which is made on the concept Block chain.