Why is blockchain important because blockchain is crucial for its ability to offer decentralized, transparent, and secure systems without relying on centralized authorities. It ensures data integrity through its immutable ledger, where all transactions are recorded and cannot be altered. Blockchain enhances efficiency by eliminating intermediaries and reducing operational costs, particularly in sectors like finance, supply chain, and healthcare. Its transparency fosters trust among participants, while its security mechanisms protect against fraud and cyberattacks. These features make blockchain transformative for various industries, driving innovation and digital transformation.