excesses greed: Banks were collapsing, businesses were foreclosing and people were losing their homes, according to The Independent. It was the result of the worst excesses and greed of a capitalistic system that was teetering on the edge of comprehensive collapsed. Hidden among the lines of code in the first ever batch of the cryptocurrency was a headline from the frontpage of that day's edition of The Times Chancellor on brink of second bailout for banks . It was 3 January, 2009, and the world was in the midst of the worst financial crisis since the Great Depression. But Satoshi Nakamoto, bitcoin's pseudonymous creator, believed he had a solution. But for all its promise, it turned out to be a bumpy revolution. Download the new Indpendent Premium app Sharing the full story, not just the headlines Download now It came in the form of a revolutionary electronic cash system that ditched centralised systems like banks and governments in favour of a peer-to-peer payments network supported by an online ledger known as a blockchain.
(news.financializer.com). As
reported in the news.
Tagged under excesses greed, times chancellor topics.