Origins of Blockchain

Abstract

Over a period of little more than five years, Blockchain, a cryptographic tamper-proof record keeping solution with decentralized control and distributed processing has become a go-to technology that appears to provide a permanence of verified provable record keeping in a fast- changing trend-driven internet economy of modern times. This rise to well-deserved name recognition may be new, however, Blockchain like technology has been around for a while. Many ideas behind blockchain like technology have been researched, patented and in use in late 1970s and early 1990s. The following research note briefly describes origins of blockchain technology. This is one among a series of research notes on ever changing world of cryptocurrencies and blockchain and how they will help or hinder various sectors of modern economy.

Keywords: Blockchain, Cryptcurrency, Bitcoin, Digital Currency