What is a blockchain?

Blockchain network uses cryptographic keys: using pairs of publicly known keys (public keys) necessary to identify transactions; private keys are used to confirm their authenticity and encrypt transactions. It is used in numerous projects, among others, providing security and, in certain cases, also anonymity of the transactions made, or maintaining certain records using this technology. Based on this technology it has also become possible to create digital assets, including crypto-assets reflecting certain rights or relationships (often of a contractual nature), including the use of smart contracts to ensure the effectiveness and certainty of transactions, and in certain cases to ensure the fulfillment of benefits associated with a given obligation. At the same time, this technology often enables the creation of specialized applications within specific Blockchain networks, enabling their use for the purposes of the network. With this in mind, Blockchain technology can influence the future shape and rules of operation of financial market entities, especially by eliminating intermediaries in the execution of asset trading, which is all the more important in the context of EU efforts to implement this technology in the financial market.