programmed to record not just the financial transactions but virtually everything's value.

That's absolutely correct . Besides storage the noneditablity after storage and public ledger system of blockchain makes it resistant to forgery.

while also providing greater speed and efficiency than traditional systems.

Yes the security and sclabliity cbined together would do wonders in finance and bussinesses .

[Transactions can be verified by other parties without the need for third-party verification.

That's true . The recorded transactions after verification by all the nodes are publicly accessible. That makes this system versatile.

Good luck