as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
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how would you explain what a blockchain is to a non-technical person?
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a blockchain is a decentralized digital ledger of transactions shared across a network of computers. it operates without a central authority, which means that no single user or entity can alter or remove records. the technology stores data in securely encrypted blocks which are linked together in a chronological chain. transactions added to the blockchain are validated by a consensus process and once validated, can never be altered or removed. this makes the blockchain incredibly secure and efficient for recording and validating transactions.
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