BLOCKCHAIN AND ITS APPLICATIONS
In 1999, Nobel Prize-Winning economist Milton Friedman said, “the one thing that’s missing is a reliable e-cash, whereby on the internet you can transfer funds from A to B without A knowing B or B knowing A” and that “it would be one of the major forces for reducing the role of government.” 10 years later, the Bitcoin blockchain launched intending to become the future of money. In 2008, A document was published online called ‘Bitcoin: a peer-to-peer electronic cash system’.The document outlines how to build a digital currency that is secure and transparent without a bank or central body. It’s written by an unknown person called ‘Satoshi Nakamoto’. In 2009, Satoshi launched Bitcoin in January 2009 as an alternative to the current financial system and centers of power. Around 2014, technologists and investors shifted their focus from Bitcoin to the blockchain, bitcoin’s underlying technology. Though Bitcoin and blockchain are often referred to interchangeably, that’s incorrect. Bitcoin i...