BLOCKCHAIN
BLOCKCHAIN A TIMELINE
1991 : Stuart Haber and W . Scott Stornetta conceive the idea of an encrypted chain of blocks containing data and timestamps that cannot be altered .
2008 : A group or person under the name Satoshi Nakamoti creates Bitcoin , the world ’ s first cryptocurrency . Bitcoin is the first application of blockchain technology . It launches in January 2019 .
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2013 : Blockchain ’ s potential beyond cryptocurrency is explored . Developer Vitalik Buterin along with seven other co-founders creates Ethereum , a new public blockchain with added functionalities and the ability to host different types of cryptocurrency
2017 : Almost 15 per cent of the world ’ s big banks use blockchain
2019 : Worldwide spending on blockchain technology reaches $ 2.7 billion . Deloitte ’ s Global Blockchain Survey finds that 50 per cent of organisations in a variety of sectors now recognise that blockchain is a critical factor .
JANUARY 2021