A brief history

In 2009, a whitepaper called Bitcoin: A Peer-to-Peer Electronic Cash System was released by Satoshi Nakamoto to solve the existing financial market challenges. This whitepaper focused on developing a platform to allow online payments from one party to another without going through financial institutions. One of the major challenges addressed was about the double method, which is used to avoid double spending (a unique problem with digital currency is the risk of reproducing the same amount, even after spending it) of Bitcoin. As Bitcoin is digital money and it isn't difficult to copy digital data and announce it, double-spending occurred and a solution was proposed to prevent this; this was blockchain. However, Nakamoto's original paper does not mention the word blockchain; it first appeared as block chain in a Bitcoin source code comment.