A Look at Blockchain's Very Brief History

Lets go way way back to the olden times when blockchain technology surfaced globally and just review. OH, way way back is.........2008. Wow! Seems like just yesterday. Remember, initially Bitcoin was considered a peer to peer version of electronic cash made possible by the blockchain. Obviously Blockchain IS fundamentally changing the way business is done around the world and it has been quoted as "Blockchain is to Bitcoin as what the internet is to email". Think about that for a second. Blockchain is just a big electronic system with a ton of applications that can be placed on it, Bitcoin being just one. And, in just those ten short years, it is estimated that almost 15% of all financial institutions are using blockchain technology. Wow! With growth like that the future is going to be very exciting in virtually EVERY sector of the economy. Electronic Infrastructure on steroids.

(Bill Taylor/Managing Editor)

"When Satoshi Nakamoto, whose true identity is still unknown, released the whitepaper Bitcoin: A Peer to Peer Electronic Cash System in 2008 that described a “purely peer-to-peer version of electronic cash” known as Bitcoin, blockchain technology made its public debut. Blockchain, the technology that runs Bitcoin, has developed over the last decade into one of today’s biggest ground-breaking technologies with potential to impact every industry from financial to manufacturing to educational institutions. Here’s a brief history of blockchain technology and some thoughts about where it might go in the future.

Bitcoin Beginnings

You can’t discuss the history of blockchain technology without first starting with a discussion about Bitcoin. Shortly after Nakamoto’s whitepaper was released, Bitcoin was offered up to the open source community in 2009. Blockchain provided the answer to digital trust because it records important information in a public space and doesn’t allow anyone to remove it. It’s transparent, time-stamped and decentralized.

“Blockchain is to Bitcoin, what the internet is to email. A big electronic system, on top of which you can build applications. Currency is just one,” Sally Davies, FT Technology reporter...: