The block Chain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything. A block chain by itself is just a data structure. That is, how data is logically put together and stored. Other data structures are databases (rows, columns, and tables), text files, and comma separated values (CSV), images, lists, and so on. You can think of a block chain competing most closely with a database.
Block Chain is a transparent and verifiable system which will change the way people think about exchanging value and assets, enforcing contracts, and sharing data. The technology is a shared, secure ledger of transactions distributed among a network of computers, rather than resting with a single provider.
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