The document discusses blockchains and their applications. It defines a blockchain as a database containing a complete history of time-stamped events or information blocks connected in a chronological chain. While blockchains aim to provide an immutable record, their trustworthiness depends on the properties of the consensus mechanism used to validate new entries. The document examines how blockchains could record individual performance histories in a transparent and trustless way without needing to rely on trusted intermediaries, using Bitcoin and other cryptocurrencies as examples. It notes both the technical advantages and limitations of blockchain applications.