Blockchain technology refers to a publicly distributed ledger that operates through peer-to-peer networks encrypted into blocks. The cryptographic hash secures the transactions of blocks into chains, (thus the name Blockchain). Blockchains are digitally signed to ensure the integrity of the data. 

The concept of blockchain was first proposed by Satoshi Nakamoto (pseudonym) in The Bitcoin Whitepaper in 2008. Today, blockchain technology is not only utilized for secure transactions in the cryptocurrency space but has also enabled the creation of Web3.