The Chicken and Egg: Blockchain Existed Before Bitcoin

The Blockchain is a disruptive technology which is proving to be an inevitable aspect of human development. Yet in the stage of adoption across various sectors of development, Blockchain technology within the last decade has grown in popularity and displayed great potential in so many aspects.
Cointelegraph spoke to Asse Sauga on the history, development and potentials of the Blockchain, especially as it disrupts existing industrial processes. Sauga was the first Blockchain professional in the banking sector with LHV Bank in Estonia, he is presently the CTO at ProofofYou.
The beginning of the Blockchain
According to Sauga, different Blockchain projects had been developed around the world since the nineties but as a centralized transactions system. Bitcoin, as a first major application of a trustful decentralised Blockchain happened at the beginning of 2009. Initially, nobody believed that the Bitcoin would succeed as described in a White Paper.

This post was published at Coin Telegraph on 2016-08-09.