With Blockchain, that is digitised and decentralised, you do not need a third person to hold all records and verify transactions.
Blockchain is far more secure than other record keeping systems because each new transaction is encrypted and linked to the previous transaction. A key feature of blockchain technology is its verification process, which requires some form of consensus. For example, the bitcoin blockchain requires a minimum of 51 percent of all computing power on that network to verify the authenticity of each transaction before it is permitted to complete and get added to the bitcoin ledger.
This write-once, never erase nature of blockchain makes it safe from falsifications, errors, accidental data wipes and hack attacks. It has also digitised an essential element of transactions between people – trust. Until recently, we used an analog method to ensure you were dealing with a legitimate counter-party. With Blockchain, that is digitised and decentralised, you do not need a third person to hold all records and verify transactions.