The digital cash “Bitcoin” exploded last year to all time highs and a household name, but was not the first virtual currency! Here are a few past use cases that might surprise you.
Early First Credit Cards 1958-1966
Bank of America’s BankAmericard was first issued in 1958, then spun off into Visa same year. The card was able to be used at participating merchants only.
DigiCash Inc. 1989
David Chuam founder of this electronic money corporation, created the first anonymous electronic payment system using cryptographic protocols. This allowed for the privacy for online transactions and detected double spending. Could David be the real Nakamoto Satoshi?
Internets Birth 1990
Without the invention of the world wide web, electronic transfers would not be possible in pure electronic form like we know it today.
E-Gold Digital Cash 1996-2009
Federal Reserve Quantitative Easing
We all know about inflation when governments print money, but heating up the printing press is not always the case. After the 2008 market crash, the Federal Reserve bought bonds from banks and paid the bill in “electronic cash”.
Conclusion: Digital Cash
One world electronic cash or
What do you think about all these bits & bites?