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How Major Banks Are Using Bitcoin Blockchain Technology to Change the Banking Industry

August 10, 2016

In 2009, a mysterious and brilliant software developer named Satoshi Nakamoto — a pseudonym Craig Wright created for himself — invented the concept of Bitcoin, a global digital currency, or cryptocurrency, that isn’t tied to any single banking system or government.

Nakamoto’s invention was created with the intention of freeing people from the authority of banks and nations in regard to monetary transactions. But a funny thing happened on the way to Utopia: The banks started using the same technology that was invented to accommodate Bitcoin.

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