The term "Blockchain" has been making headlines lately. What do you know about it?

In simple terms, Blockchain is an innovative way of organizing data but its handling is different and it’s decentralized, away from banks and governments.

Many confuse the role of the virtual currency and the Blockchain technology, which rewards shareholders by verifying the network by giving them after verification tasks a virtual currency that might be a quin house or any other virtual currency.

The Blockchain technology, known as the virtual currency transaction log, helps keep lists resistant to tampering with ever-growing data records and allows secure exchange of valuable materials such as funds, stocks or data access rights. Unlike conventional trading systems, there is no need for a broker or central registration system to follow the movement of exchange, but all parties are dealing directly with each other.

Blockchain operates as an electronic transaction log and record system that allows all parties to track information through a secure network that does not require third-party verification. Banks and financial institutions have adopted Blockchain's approved currency in the virtual currency of Bitcoin, the Standardized Transaction Register at a faster pace than expected, with around 15 percent of the world's largest banks turning to Blockchain's commercial products next year, according to a Reuters report.