On October 31, 2008, Satoshi Nakamoto, an unknown individual or group, published the now-famous bitcoin whitepaper. He/she/they/whoever Satoshi was, recognised the imperfections with the global payments system and figured there was a better way to send money to one another without the inconvenience of financial intermediaries like banks and even fintechs like Visa and Mastercard.
Bitcoin: A Peer-to-Peer Electronic Cash System, the title of the whitepaper, became the standard upon which bitcoin (also called BTC) was built, giving birth to an alternative global currency environment that undercut financial institutions and government control of money. Since then, newer cryptocurrencies such as litecoin and ethereum have emerged with architecture different from bitcoin’s.
However, beyond the technicalities and utopian vision for cryptocurrency, what exactly are its use cases? What can bitcoin and some of its crypto cohorts do for us?
The first answer is peer-to-peer payments
In the first sentence of the novel whitepaper, Satoshi clearly explained one use