History of Cryptocurrency

1980s

The first known attempt at crypto currencies occurred in the Netherlands, in the late 1980s. Drivers of trucks were given these new-fangled smartcards instead of cash to refuel in remoter areas, where thieves were often robbing gas stations for cash.

1990s

The concept of cryptocurrency came into existence when DigiCash Inc., an electronic money corporation, was founded by David Chaum in 1990. DigiCash transactions were unique in that they were anonymous due to a number of cryptographic protocols developed by its founder. The company had made a brilliant product. In 1993 David Chaum invented the digital payment system ecash. Ecash was perfectly suited to send electronic pennies, nickels and dimes over the Internet, as transaction fees for small payments using credit cards were simply too high. However DigiCash declared bankruptcy in 1998.

1990s

In the late 1990s, some online gaming systems and websites decided to establish their own “currencies” that could be traded only within the confines of their games or web pages called credits. That could be seen as the beginning of crypto currency development.

1998

In the end of 1998, PayPal was established. PayPal is international digital wallet based e-commerce business allowing payments and money transfers to be made through the Internet. Online money transfers serve as electronic alternatives to paying with traditional paper methods, such as checks and money orders. That was the next step in crypto currency evolution.
Meanwhile, the world witnessed the shutdown of e-gold, an early Internet digital currency backed by gold. This event has shown that gold alone could not bring back the monetary integrity and freedom.

2009

Satoshi Nakamoto, a genius motivated by the vision that crypto currency would one day bring freedom back to the world, set out the concept of a currency that was fully independent from governments or corporations; it could be purchased with government-issued legal tender, but from that point forward it would be free from government and bank regulation, surcharges, and other factors that affect traditional legal tender. Its unique encryption methods would allow for anonymity between payer and payee, if they so wished. Digital currency would be its own new and revolutionary financial tool, and could be freely traded internationally. Satoshi Nakamoto introduced his work Bitcoin to the world in 2009, marking the dawn of a new era in the financial history of human civilization. The main breakthrough of Bitcoin is the introduction of a decentralized public ledger. The term crypto currency then refers to the new class of virtual currencies with high degree of decentralization (also known as peer-to-peer in Internet terminology), thus much more resistant to shutdown attempts.

2012

Even though Bitcoin was introduced in 2009, the crypto currency Bitcoin caught the interest of the mainstream media only in 2012. Due to its supposed anonymity crypto currencies are often compared to cash. However, unlike cash, these currencies are purely digital and used primarily online. Crypto currencies have the potential to compete against other online payment methods such as credit/debit cards and PayPal. It is possible that cryptocurrencies may have an immense long-term effect on both currency and payments systems.
In the context of both currency competition and competition between exchanges, network effects play an important role. Positive network effects are present when the value of a product or service increases with the number of users. A currency is more useful as more people adopt it. The more people will believe and use crypto currencies, the more stable and valuable they will become. An exchange is more liquid when there are more buyers and sellers. Therefore, it is possible that the larger competitor will grow even larger, eventually dominating the whole market.

2014

In 2014 crypto currencies received more attention than ever before. On February 20, 2014 the first bitcoin ATM was launched in the United States. The kiosk installed in Austin, Texas is similar to bank ATMs but has scanners to read government-issued identification such as a driver's license or a passport to confirm users' identities.
PayPal announced partnerships with three major payment processors in the bitcoin space – BitPay. Though the online e-commerce pioneer stopped short of integrating bitcoin into its digital wallet or payment processing services directly, the move marks PayPal's first formal offering to the bitcoin community.
Microsoft announced on 11th December that it would accept bitcoin as a payment option for a range of digital content, including games and videos on its Xbox Live platform and apps on its mobile platform.

October 2014 - Capricoin came to life on a meeting in Benidorm, Spain. With brand new ideas how to create the adoption of the coin Vizionary was created.

2015

Braintree Activates Bitcoin Payments for US Merchants. Merchants who use the payments software platform Braintree in the US can enable bitcoin payments through Coinbase.

Capricoin: Vizionary that have exclusive right to Capricoin for upto 500 weeks give there miners the very first coins on March 16 - The very first miningpool gave 174 coins per slot

 

Contact details

Mario Erlank

Mail: marioerlank@gmail.com

Skype (chat): marioerlank@gmail.com

Web: www.vizionary.com/wealthproject