Understanding the history of cryptocurrency

The global financial system is under an increasing amount of pressure to get with the times and evolve to the needs of its customers. Crises like the 2008 housing bubble’s collapse, and failing currencies in places like Venezuela and Zimbabwe saw people looking for alternatives to traditional banking and financial systems.

Many people turned to Bitcoin as a solution, liking its ability to be used as an international payment system without involving third parties or governments.

Although Bitcoin has gained momentum primarily in the last three years, due to mass media and public attention, it’s been around for over a decade.

Back in 2010 – 2014 cryptocurrencies were not well known and their primary reported use was as a tool for buying guns and drugs on the dark web.

Soon, innovators and techies saw the potential in cryptocurrency not just as a tool for the tax evader and shady buyer, but also as one which could benefit users with fast, stable transference of…