The First Bitcoin (BTC) Transactions Marks Tenth Anniversary

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The first Bitcoin (BTC) transaction took place exactly ten years ago on the 12th of January 2019. The first transaction involving BTC ten years ago marked the beginning of a new era for the global monetary system. The transaction was carried out between Satoshi Nakamoto – the anonymous creator of Bitcoin (BTC) – and Hal Finney, a long-term cryptographer, and cypherpunk and US software engineer.

Since the first successful transaction of Bitcoin (BTC), its market, as well as the technology behind it – blockchain, – have evolved to greater heights. It has also seen the creation and entry of new digital currencies in the space.

Recently, Nydia Zhang said, “The blockchain and crypto industry has changed the manner in which people connect for governance, commerce, industry, and finance without the need for a middleman.”

Nydia Zhang is the chairman and co-founder of the Social Alpha Foundation – a non-profit organization that makes blockchain-based platforms for social good.

She also said that ”From digital currency which has redefined how we define, exchange, and qualify value, to trustless ledgers that bring databases into a realm of interoperability not possible before. Bitcoin (BTC) and its underlying technology have changed everything.”

Bitcoin (BTC) Will Continue to Thrive

The chairman also said that even though last year was a very tough year for the digital currency market, it survived extinction and it will keep growing stronger this year. This same thing goes for blockchain technology, it will continue powering the new internet powerfully and quietly, she added.

Over the past ten years, the use of digital currencies and blockchain has evolved from a small entity known by just a few persons to something that now has multiple use cases. This has helped to solve real-life issues in several sectors.

One of the industries this technology has transformed greatly is the finance industry. According to Nick Cowan, “Digital currencies were the first use case of blockchain technology. This paved the way for new payment practices. It also addressed the majority of long-standing issued faced by traditional finance, such as settlement delays and high transaction costs. Nick Cowan is the founder and MD of Gibraltar Stock Exchange Group Limited.

Bitcoin (BTC) Price Today – BTC / USD

Name Price24H (%)
Bitcoin (BTC)
$9,785.00
-9.92%

Even though last year wasn’t favorable to Bitcoin (BTC) compared to its price rally in 2017, the crypto market continues to see more interest. That aside, it may be that improvement in technology that makes it easier for people to invest and use BTC, increased regulation, and increased adoption by major institutions will help to push the space towards mainstream adoption.

The co-founder and CEO of Ambrosus – Angel Versetti – believes that the crypto space is as relevant now as it is ten years ago. Ambrosus is a blockchain-based Internet of Things (IoT) system that is aimed at enhancing the tracking of products via supply chain.

In a statement, the CEO said, “We are at the edge of another major financial crisis and possibly a bigger geopolitical cataclysm, and thus the core value proposition of Bitcoin (BTC) as a censorship-resistant and truly limited digital asset that isn’t subject to control is as relevant as ever. “

He also said that the blockchain and digital currency space will continue to thrive and deliver on its fundamental benefits and values because people still believe and trust the technology. He said that the only disappointed people are those that came into the space at the wrong time.

Brian Lubin is a Crypto News Reporter for Smartereum. He's well-known for his reports on the crypto markets.

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