History of creation and development of cryptocurrencies
Initially, remote payments were made by direct cash transfers. The parties to the transaction were not obliged to trust each other. The main thing for the seller is to get the money and make sure it is authentic. If everything is in order, then the buyer won't have any more questions.
The main thing for the buyer was to have a confirmation of the dispatch of the money so that the seller could be held liable. Over time, there have been intermediaries trusted by both parties to the transaction.
The buyer gave the money to the representative of the intermediary and the seller gave it to the representative of the intermediary at another place the other representative was getting them. Physically, the money didn't always have to be transported because it could be used as a preposition. This made it possible to speed up and reduce the cost of payments, make them safer. One of the additional features of such payment systems has become possible to block or cancel payments.
С The development of computer technology has led to an increasing need for electronic payments. But attempts to create "electronic money" that could be transferred between computers as easily and reliably as cash was not successful.
The problem was the ability of computers to make an exact copy of any digital information that could potentially lead to repeated use for different payments of the same "coins". The buyer could pay for the goods, and then
to send an exact copy of the electronic "coin" to another seller. Only a third party a trusted intermediary could guarantee the sellers that there was no payment dispute.
Exactly. Intermediary control allows the seller to ensure that the buyer has enough and it's not gonna be a copy of the money you paid someone before. Obligation of intermediaries has made it possible to significantly simplify the system of state control over electronic payments - it was enough to establish control over intermediaries or
to force them to control "suspicious" transactions. It also required a reduction in Transaction costs, which in some cases were taken up to half of the profits from deals. Repeated attempts to have been made to create a system of remote payments, which would be cheaper, less dependent on intermediaries, but no less reliable and safe.
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