At the end of the 20th century, economists and researches had already created the term and concept of what we now call blockchain. But it became popular only after the global crisis when the Japanese programmer Satoshi Nakamoto (his identity has not yet been revealed) published Its description and technological solution.
So what is the essence of this technology? It helps to automate transfers where there are no intermediaries: banks, bankers, “trusted” third parties. It’s considered one of the most convincing for solving problems with corruption. All transaction information is hashed, and each block’s data is attached to the previous one. Thus, to change any record, it’s necessary to change all previous block’s information (which is practically impossible).
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