What Is Ethereum?
Ethereum is a world computer that allows for contracts and agreements to be written as software that executes itself, removing the need for ‘middlemen’ greatly reducing costs.
These are known as Smart Contracts.
Ethereum also allows for what are known as dApps (distributed applications) that cannot be censored or controlled in in any form, eliminating many of the privacy issues and concerns we live with today. Decentralized Autonomous Organisations are also made possible.
Token based transactions can take place at a fraction of the costs incurred in the financial and banking system of today, allowing for transfer of value to be made with with much more ease.
The below snippet of this TEDx talk seen here gives an excellent overview and expansion on these core ideas, and what can be made possible when putting these together.