The creation of cryptocurrency...
In 2008, the world was in a financial downturn like the great depression of the 1920's. This 2008 global financial downturn was caused from an explosion of oversold loans in the banking system which created havoc across the economies on the globe.
However, as the financial crisis begun the meltdown in 2008, an interesting idea was coming to light. As the financial meltdown begun, something called cryptocurrency using blockchain technology emerged... as this was the beginning and birth of cryptocurrency.
What was the name of the first cryptocurrency technology?
The first cryptocurrency that was created was Bitcoin, which was born right after the discovery of the famous white paper that emerged in 2008.
Where did the idea come from?
Crypto's birth can interestingly be tracked all the way back to an older white paper which was published on October 31, 2008, on a platform called Metzdowd. The white paper was entitled "Bitcoin - A Peer to Peer Electronic Cash System", which was written by a mystery person, but still entitled to be claimed.
The author named on this fascinating white paper was Satoshi Nakamoto. No one ever determined if this was his real name. No one seemed to ever know Satoshi personally, or even met him so he was deemed as an anonymous person. Hence, we'll just give him the name ghost rider.
So there we have it, the famous ghost rider Satoshi Nakamoto who apparently unveiled the concept of a possible digital form of money.
Satoshi's paper proposed a futuristic virtual currency, which was revealed and ready to put into action. Bitcoin was just around the corner, ready to arise from this new idea of a digital form of virtual money.
Cryptocurrency and it's impact in today's world
Crypto continued to emerge and grow into this more modern world we live in today, as well as other crypto companies have emerged along the way.
However, in today's world there is a sense of cryptocurrency being risky, some have been stolen, and all are very volatile from day to day and week to week.
Although, Satoshi Nakamoto's paper definitely made an impact in the world since 2008... at a time when the economies across the world were experiencing such a hardship.