a technical manifesto Bitcoin (BTC) White Paper 14 years First released today under the MIT public license for everyone to learn, share, and benefit from.
Bitcoin (BTC) White Paper Celebrates 14th Birthday
“I am working on a new electronic money system that is fully interpersonal, without a trusted third party.”
Satoshi Nakamoto, creator of Bitcoinused these words to greet the world in an email that published the Bitcoin White Paper nearly 14 years ago.
Today still no one knows who Satoshi is. No one heard from him/her after signing this email.
The Bitcoin White Paper, a technical statement, was the first document to outline the principles of a cryptographically secure, peer-to-peer electronic payment system designed to be fundamentally transparent and censorship-resistant, putting financial control back in the hands of the individual.
At the time, the world was in the grip of a financial crisis brought on by excessive speculation in financial markets and banks risking millions of dollars’ worth of depositors’ money.
This document laid the foundation for what is often considered the first functional digital currency powered by a distributed ledger technology called Blockchain.
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One of the many groundbreaking features in Satoshi’s electronic payment system is its longstanding legacy of cashless spending. “double spend” was solving the problem.
Thanks to the implementation of time-stamped transactions that were unanimously verified by a distributed network of validators, it was no longer possible for a person to spend the same money twice.
The White Paper was released under the MIT public license in 2008 for all to learn, share and enjoy.
*Not investment advice