Ethereum is an open software platform that runs on Blockchain technology that was released in 2014. Like Bitcoin, it is decentralized - it is not owned or operated by any single entity - and distributed across a P2P network for validity of transactions.
The key function of Ethereum, however, is not to act as a currency. It is meant to provide us with a "global computer" where anyone can develop and deploy decentralized applications. To achieve this, the Network is run on 'Smart Contracts' which is a set of codified rules to facilitate transactions or exchanges of any kind. Blockchain technology allows Smart Contracts to function as intended and eliminates the possibility of any Third-Party interference allowing for a truly decentralized platform.
What can Ethereum do for me?
Ethereum is a truly exciting technology and one to keep a watch on in the coming years. Its full potential is yet to be realized and there is much to be discovered about its utility. We would like to leave it up to your own imagination to help develop this groundbreaking technology.
If you wish to find out more about Ethereum, you can read its Whitepaper here.