The idea of cryptocurrency did not appear suddenly. It is the result of a long path of technological, economic, and ideological innovations. Here’s how it was born:
🧠 1. The need for digital money (1980s–1990s)
With the arrival of the Internet, several researchers wanted to create a form of money usable online, but without going through a bank or government. All while aiming to transfer value as one sends an email.
Which led to the emergence of pioneering projects:
DigiCash (David Chaum, 1989): the first digital currency based on cryptography.
eCash: an innovative but centralized solution.
But these projects failed because they depended on companies or states.
$BTC
🔏 2. Cryptography and the search for the 'trustless' system
Groups like the cypherpunks (1990s) wanted a system where no authority controls money, transactions are private, and financial freedom is total. This gave birth to:
b-money (Wei Dai)
Hashcash (Adam Back) – proof of work system (Proof of Work)
These ideas will become the foundations of Bitcoin.
$ETH
💡 3. The real trigger: the financial crisis of 2008
After the global banking collapse (Lehman Brothers), trust in banks plummeted. And it is in this context that Satoshi Nakamoto publishes the Bitcoin Whitepaper on October 31, 2008.
🧩 4. Satoshi's solution: Bitcoin (2009)
Satoshi combines several existing technologies:
🔐 Cryptography
⛏ Proof of Work
📚 Blockchain (immutable distributed ledger)
And creates:
👉 A decentralized monetary system, without banks, transparent and secure.
👉 A supply limited to 21 million, unlike inflationary currencies.
The first block of Bitcoin (Genesis Block) contains a revealing message:
> "The Times 03/Jan/2009 – Chancellor on brink of second bailout for banks"
→ A clear critique of the traditional banking system.
$SOL
🎯 In summary
The idea of cryptocurrency was born from:
✔ the search for digital money
✔ the evolution of cryptography
✔ the desire for financial freedom
✔ the economic crisis of 2008
✔ the vision of Satoshi Nakamoto.
