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Ryan Decker3,451 Points
Blockquote: Not really a "quote?"
What is the purpose of the Block Quote tag? It does't add quotation marks, and only seems (visually) to indent the text in a paragraph.
It is new with HTML5 markup. The biggest impact this has is with Search Engine Optimization (SEO). It allows you to add multiple header tags (h1s, h2s, etc) which doesn't impact the document's outline - meaning search engines won't get angry at you by having duplicate content. In fact they prefer it. You are giving them more information about your page which will result in people finding your content easier. Blockquote is similar to Articles. Same concept.