Blockchain isn’t new technology | CoinGeek [Video]

Blockchains aren’t fancy or new

In the glitz and glamour surrounding blockchain technology, it’s easy to forget that these so-called revolutionary advancements are, in many ways, neither fancy nor new. At the heart of this ostensibly cutting-edge field lies the hashed timestamp server, a technology that has been quietly and reliably publishing a hash in the Sunday New York Times for decades. This unassuming yet profound system, created by Stuart Haber and W. Scott Stornetta, was referenced in the Bitcoin White Paper and has been operating since 1991. It’s a stark reminder that the foundational elements of blockchain technology are rooted in history, not novelty.

How to Time-Stamp a Digital Document

Stuart HaberW. Scott Stornettahttps://t.co/GNCH4TvWHw pic.twitter.com/d0nZKXAcxX

— iang (@iang_fc) October 5, 2021

The pre-Bitcoin era of digital currencies

Before Bitcoin, there were numerous digital currencies that sought to revolutionize the financial system. Initiatives such as Karma, Digicash, eCash, eGold, and Liberty Dollar laid the groundwork for what the amateurs …