Blockchain
In simple terms, a blockchain is a digital process for recording data in a way that allows every participant access to the same information.
It is a database of information made of blocks chained together in a way so that they cannot be tampered with and so is a secure way of recording transactions from peer to peer without using a third party. The transfer creates a ledger which is open-sourced and cannot be tampered with.
Origin
Blockchain was invented by Satoshi Nakamoto in 2008 for use in the cryptocurrency Bitcoin as its public transaction ledger. The invention of the blockchain for bitcoin made it the first digital currency to solve the double spending problem without the need of a trusted authority or central server.
Application to property and real estate
Several countries are using or considering introducing blockchain for registering title in land and property transactions. For example:
It is also a concept for use in property and facility management processes and provides a secure depository of documents relating to a building such as lease agreements and payments.