Our core goal is to understand how blockchain functions, and why Bitcoin has become so popular. However, in order to do that, we need to provide a quick recap of some macroeconomic events that took place in recent history. Bitcoin's launch during the global economic and financial crisis was one of the most important things to ever happen in the history of money.
Blockchain technology is commonly referred to as the internet of money or value. Let's begin by providing an overview of the chain of events that led to the emergence of Bitcoin, which was the first globally recognized application of blockchain technology.
The Bitcoin whitepaper was published in October 2008, the year when the global economic and financial crisis hit the world. Coincidence or not, Bitcoin seems perfectly designed to address many of the deficiencies of fiat money...