# WHY IS BLOCKCHAIN TECHNOLOGY [Blockchain started](https://www.simplilearn.com/tutorials/blockchain-tutorial/what-is-blockchain) in 1991 as a way to store and secure digital data. Blockchain is an open ledger that several parties can access at once. One of its primary benefits is that the recorded information is hard to change without an agreement from all parties involved. [IBM explained](https://www.ibm.com/blockchain/industries/government) that each new record becomes a block with a unique, identifying hash. Linking the blocks into a chain of records forms a blockchain. [Bitcoin cryptocurrency](https://www.simplilearn.com/bitcoin-digital-currency-article) uses blockchain technology. Blockchain helps in the verification and traceability of multistep transactions needing verification and traceability. It can provide secure transactions, reduce compliance costs, and speed up data transfer processing. Blockchain technology can help contract management and audit the origin of a product. It also can be used in voting platforms and managing titles and deeds. It is the hope of us, the Floki Santa team that Blockchain can be adopted in all areas of life, therefore introducing Santa on the Blockchain! Note: The data is recorded in chronological order. Also, once the data is recorded, it cannot be changed. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://flokisantawpp.gitbook.io/untitled/about/why-is-blockchain-technology.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.