Money

A blockchain is a distributed, append-only ledger that records transactions across a network of computers. Each block contains a batch of transactions, a timestamp, and a cryptographic hash linking it to the previous block — making the chain tamper-evident. No single entity controls it. Consensus mechanisms (proof of work, proof of stake) ensure all participants agree on the ledger's state.

Open banking is a regulatory and technology framework that allows third-party financial services to access bank data through secure APIs — with customer consent. Instead of banks being the sole gateway to your financial data, open banking enables fintech apps to read account balances, initiate payments, and build services on top of traditional banking infrastructure.