32 reactions
What is the first #crypto coin invented / released / traded ?
everyone will say #BTC ... no ... WRONG . Bitcoin is not the first cryptocurrency.
DigiCash was founded in 1983 and eCash become the first fully electronic money, in 1993. First decentralised and cryptographic digital money by the american cryptographer David Schaum.
Focused on privacy, he laid the groundwork of a new concept, the so-called public key encryption ("Blind signatures for untraceable #payments "). [1]
Chaum developed a so-called "blinding formula" to be used to encrypt information passed between individuals.
"Blinded Cash" could thus be safely transferred between individuals, bearing a signature of authenticity and the ability to be modified without traceability.[2]
eCash was arguably the first cryptographic electronic money. After facing pressure from central banks, DigiCash made an agreement that its eCash product would only be sold to banks.
The first bank to deal with it was the "Mark Twain Bank " in St. Louis, Missouri -USA (1995-1998).
The bank acted as the primary issuer for the digital cash system ... allowing users to withdraw digital "coins" from their accounts and spend them with participating merchants without revealing their personal identities [AI research output ] ... ( very familiar concept today) .
Although he struck deals with big names like Deutsche Bank, the newly created alternative money system lacked traction and some promising deals were turned down, like the one with Bill Gates, which aimed to incorporate eCash in every copy of Windows 95. [1] .
At one point Microsoft offered Chaum $180 million to put DigiCash on every Windows PC. But Chaum said that it was not enough money, and the deal fell through. [3]
In the end it was a plethora of problems that lead to the eventual demise of DigiCash and their revolutionary eCash . Eventually they had to declare bankruptcy
in 1998. [1]
The ideas the company put forward and some of its formulas and encryption tools played an important role in developing later digital currencies. [2]
Few other #cryptocurrency projects (B-money , E-gold , Bit-gold, Hash-cash ... ) didn't succeed for almost the same reasons , dominance of traditional bank system , lack of adopters, electronic commerce was at its beginnings, and of course legal things were popping like popcorn to prevent such revolution ... like today. those projects were the fuel for bitcoin and earlier modern crypto projects and made it easier to see the light.
last verdict :
BTC is not the first cryptocurrency. 🫤
dig and you will find more interesting info like satoshi nakamoto who said he had nothing to do with BTC (need to find the video, lost it)
#learn #history #finance
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sources :
1- https://ec.europa.eu/newsroom/cef/items/658303
2- https://www.investopedia.com/tech/were-there-cryptocurrencies-bitcoin/#toc-ecashthe-first-cryptocurrency
3- https://bitcoinmagazine.com/business/quick-history-cryptocurrencies-bbtc-bitcoin-1397682630#:~:text=The%20private%20compromise%20that%20they,Digicash%20ran%20out%20of%20money .
4- gif : https://tenor.com/view/%D0%B0-%D1%87%D0%B5-%D1%82%D0%B0%D0%BA-%D0%BD%D0%B0%D0%B4%D0%BE-%D0%B1%D1%8B%D0%BB%D0%BE-gif-27234670
everyone will say #BTC ... no ... WRONG . Bitcoin is not the first cryptocurrency.
DigiCash was founded in 1983 and eCash become the first fully electronic money, in 1993. First decentralised and cryptographic digital money by the american cryptographer David Schaum.
Focused on privacy, he laid the groundwork of a new concept, the so-called public key encryption ("Blind signatures for untraceable #payments "). [1]
Chaum developed a so-called "blinding formula" to be used to encrypt information passed between individuals.
"Blinded Cash" could thus be safely transferred between individuals, bearing a signature of authenticity and the ability to be modified without traceability.[2]
eCash was arguably the first cryptographic electronic money. After facing pressure from central banks, DigiCash made an agreement that its eCash product would only be sold to banks.
The first bank to deal with it was the "Mark Twain Bank " in St. Louis, Missouri -USA (1995-1998).
The bank acted as the primary issuer for the digital cash system ... allowing users to withdraw digital "coins" from their accounts and spend them with participating merchants without revealing their personal identities [AI research output ] ... ( very familiar concept today) .
Although he struck deals with big names like Deutsche Bank, the newly created alternative money system lacked traction and some promising deals were turned down, like the one with Bill Gates, which aimed to incorporate eCash in every copy of Windows 95. [1] .
At one point Microsoft offered Chaum $180 million to put DigiCash on every Windows PC. But Chaum said that it was not enough money, and the deal fell through. [3]
In the end it was a plethora of problems that lead to the eventual demise of DigiCash and their revolutionary eCash . Eventually they had to declare bankruptcy
in 1998. [1]
The ideas the company put forward and some of its formulas and encryption tools played an important role in developing later digital currencies. [2]
Few other #cryptocurrency projects (B-money , E-gold , Bit-gold, Hash-cash ... ) didn't succeed for almost the same reasons , dominance of traditional bank system , lack of adopters, electronic commerce was at its beginnings, and of course legal things were popping like popcorn to prevent such revolution ... like today. those projects were the fuel for bitcoin and earlier modern crypto projects and made it easier to see the light.
last verdict :
BTC is not the first cryptocurrency. 🫤
dig and you will find more interesting info like satoshi nakamoto who said he had nothing to do with BTC (need to find the video, lost it)
#learn #history #finance
------------
sources :
1- https://ec.europa.eu/newsroom/cef/items/658303
2- https://www.investopedia.com/tech/were-there-cryptocurrencies-bitcoin/#toc-ecashthe-first-cryptocurrency
3- https://bitcoinmagazine.com/business/quick-history-cryptocurrencies-bbtc-bitcoin-1397682630#:~:text=The%20private%20compromise%20that%20they,Digicash%20ran%20out%20of%20money .
4- gif : https://tenor.com/view/%D0%B0-%D1%87%D0%B5-%D1%82%D0%B0%D0%BA-%D0%BD%D0%B0%D0%B4%D0%BE-%D0%B1%D1%8B%D0%BB%D0%BE-gif-27234670
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𝐂𝐜𝐨𝐢𝐧 𝐅𝐢𝐧𝐚𝐧𝐜𝐞 – 𝐏𝐫𝐢𝐯𝐚𝐭𝐞 𝐁𝐚𝐧𝐤𝐢𝐧𝐠 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐀𝐠𝐞 ⚡💳
Some days you need fiat. Some days you need crypto. Some days you need both.
With 𝐂𝐜𝐨𝐢𝐧 𝐅𝐢𝐧𝐚𝐧𝐜𝐞 you choose the mix: hold, convert, and spend from one place.
Free digital card after KYC. Physical card available with plan upgrades. You decide how your money moves.
Europe is pushing instant euro payments (~10 seconds) as the norm, raising the bar for everyday banking speed. Cross-border transfers still cost 3%+ and settle next day for most people - so having flexible rails (fiat + crypto) has moved past the niche.
That's the gap Ccoin Finance fills: 𝐨𝐧𝐞 𝐚𝐜𝐜𝐨𝐮𝐧𝐭 𝐟𝐨𝐫 𝐜𝐫𝐲𝐩𝐭𝐨 + 𝐟𝐢𝐚𝐭. 𝐅𝐚𝐬𝐭, 𝐨𝐧-𝐭𝐡𝐞-𝐬𝐩𝐨𝐭 𝐜𝐨𝐧𝐯𝐞𝐫𝐬𝐢𝐨𝐧𝐬. A card you can use globally. You keep control, we handle compliance—flexibility without cutting corners
If you want a setup that adapts to how you earn and spend - not the other way around - take a look at https://ccoin.finance.
#CcoinFinance #cryptofiat #Web3banking #privatebanking #digitalbanking #crossborderpayments #hybridbanking #fintech #Payments #Stablecoins #InstantPayments
Some days you need fiat. Some days you need crypto. Some days you need both.
With 𝐂𝐜𝐨𝐢𝐧 𝐅𝐢𝐧𝐚𝐧𝐜𝐞 you choose the mix: hold, convert, and spend from one place.
Free digital card after KYC. Physical card available with plan upgrades. You decide how your money moves.
Europe is pushing instant euro payments (~10 seconds) as the norm, raising the bar for everyday banking speed. Cross-border transfers still cost 3%+ and settle next day for most people - so having flexible rails (fiat + crypto) has moved past the niche.
That's the gap Ccoin Finance fills: 𝐨𝐧𝐞 𝐚𝐜𝐜𝐨𝐮𝐧𝐭 𝐟𝐨𝐫 𝐜𝐫𝐲𝐩𝐭𝐨 + 𝐟𝐢𝐚𝐭. 𝐅𝐚𝐬𝐭, 𝐨𝐧-𝐭𝐡𝐞-𝐬𝐩𝐨𝐭 𝐜𝐨𝐧𝐯𝐞𝐫𝐬𝐢𝐨𝐧𝐬. A card you can use globally. You keep control, we handle compliance—flexibility without cutting corners
If you want a setup that adapts to how you earn and spend - not the other way around - take a look at https://ccoin.finance.
#CcoinFinance #cryptofiat #Web3banking #privatebanking #digitalbanking #crossborderpayments #hybridbanking #fintech #Payments #Stablecoins #InstantPayments
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Dubai Court: Crypto as Valid Salary
This article delves into the recent Dubai court ruling that has legitimized cryptocurrency as a valid form of salary payment.
Article: https://www.cryptonavigator.net/dubai-court-crypto-as-valid-salary/
#dubai #Salary #crypto #payments
This article delves into the recent Dubai court ruling that has legitimized cryptocurrency as a valid form of salary payment.
Article: https://www.cryptonavigator.net/dubai-court-crypto-as-valid-salary/
#dubai #Salary #crypto #payments
