Blockchain provides an underlying security layer and shared trusted ledger that cannot be controlled by any single user. It focuses on cooperation and creating value together. When organizations and people who don't know each other need to interact, or when shared access to secured data is required, blockchain can provide a way to do cross-checking and give end users control over their own data. Blockchain is also useful for ensuring tamper-proof transactions, complying with regulations like data protection laws, and enabling precise tracking and full traceability through unique product identities.