Yes, that's very correct. In terms of security, Bitcoin uses the same cryptographic algorithms that standard Internet protocols do, which is 256-bit encryption. You have as a good a chance to crack just one Bitcoin account as you do of guessing the winning combination for the Powerball lottery nine times in a row. It's pretty solid as a technology.
Storing data on a public blockchain like Bitcoin is enforced through a mechanism we call “proof of work” mining. This is why: Bitcoin mining is essential to store and enforce the authenticity of data. That's why to develop what I would say is a revolutionary mechanism built on blockchain, you need mining, and you need actors such as Bitfarms, which is in Quebec.