Blockchain provides a way for people around the world to collectively maintain a database without relying on a central authority. It’s a new model for sharing and reconciling information. This also imply that there is no single owner of the database, and also no single authority of it as well.
Blockchain is a method for keeping data synchronised across multiple, independent stakeholders. Where a traditional database is perfect for tracking records for a single entity, blockchain allows a group of entities, who might be unrelated and who might all have an incentive to alter their shared data, to agree on and maintain a single dataset.