Explanation of Blockchain Payment systems

Explanation of Blockchain Payment systems

Trying as much as possible to understand what Blockchain technology is (As i am trying to see if i can be a Blockhain developer) and I just worked on a money transfer system myself and i hear everyone talking about blockchain being the next to important thing in order to develop a money payment system.

following what i read on the internet , a system using blockchain technology should have the following capabilities,

1.) After making the Payments should generate the block and generate the block hashes and save them to be used as a transaction Log Later on, in order to trace the history of the payments from the beginning till its present state... 2.) Peer-to-peer Allowing users to make payments and view track of the transactions etc

Now i want to understand in its short meaning, its this what blockchain is all about?

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