Although not very well known currently, the compound word 'blockchain' will soon be one of the most commonly and widely acknowledged terms across all industries in all societies.
In the most basic form, a blockchain is a decentralised and public ledger that is used to record transactions. These transactions are not just monetary but can involve any data transaction. The transactions are verified by the nodes in the network and added to the blockchain through a variety of different consensus algorithms.
The transparency and safety of this system comes through the use of asymmetric cryptography and also the fact that every block in the chain is specifically linked to the previous one i.e. block number 3 contains the address and hash of block number 2. This means that if there was ever a malicious attack and someone tried to change the information/data stored in a block they would also have to subsequently alter all the other blocks in the chain on every single node (there are thousands to millions of nodes across the world!).
This revolutionary technology does not only mean that at its core the data stored on the computer is extremely safe and protected but also can help quash those sci-fi A.I. conspiracies that hypothesise robots eventually taking over the world. With the blockchain this will almost be impossible. And so with that in mind, the ability for machines to integrate further into our society and help create a better civilisation will bring much larger positivity and efficaciousness.
Blockchain technology has applications across all aspects of society and soon will be incorporated almost everywhere.
So to pose the question one last time - why is blockchain technology so revolutionary? Because it is innovative, visionary and the first platform to propel us humans into the next stage of technological evolution.