In 1494, the Italian mathematician and Franciscan friar Luca Pacioli published the first detailed account of double-entry bookkeeping, a method that would become the foundation of modern accounting. Over five centuries later, another innovation quietly emerged that promised to redefine how we record, verify, and share information: blockchain.
While double-entry bookkeeping depended on centralized ledgers maintained by banks or auditors, blockchain removes this need. It enables a decentralized network of participants to reach consensus on the validity of data without relying on a central authority or intermediary.
Since Bitcoin’s launch in 2009, blockchain has evolved into a $3 trillion global industry. From supply chain traceability to smart contracts and digital identity, it changes the infrastructure of trust in the modern digital world. In 2025, engaging with this technology requires no specialized background. Visiting a single website offering blockchain-based services can provide a firsthand look at how it works in practice. Quietly but steadily, blockchain is transforming the very infrastructure of trust in the digital age.
A blockchain is a type of database. But unlike traditional databases housed in centralized servers, blockchain operates as a distributed ledger spread across a network of computers. It means that no single person or entity has full control over the data.
To imagine how blockchain works, think of a shared document, something like a Google Doc. Multiple people can view it simultaneously, and each change is recorded transparently.
Similarly, a blockchain records transactions in a public or private ledger, visible to all participants and nearly impossible to alter once confirmed.
Every time a new transaction occurs, it is added to a digital “block”. Once the block is full, it is linked to the previous one, creating a chain of blocks. That’s where the technology gets its name: blockchain.
The process behind blockchain might seem complex at first, but its basic mechanics are straightforward when broken down. Let’s have a look at how it works below.
Blockchain represents a paradigm shift in how data is stored, shared, and trusted. Because of its transparency and immutability, blockchain technology is adopted in diverse sectors.
In supply chain management, it helps track products from origin to consumer, which reduces fraud and improves traceability.
In finance, blockchain can streamline payments. The rise of the crypto payment gateway for business has enabled companies to accept digital currencies in a secure and borderless way.