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Bitcoin's Genesis: A Catalyst for Digital Currency

Bitcoin's Genesis: A Catalyst for Digital Currency
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Author(s): Shailey Singh (Symbiosis International University, India)
Copyright: 2024
Pages: 12
Source title: Exploring Central Bank Digital Currencies: Concepts, Frameworks, Models, and Challenges
Source Author(s)/Editor(s): Guneet Kaur (University of Stirling, UK), Pooja Lekhi (University Canada West, Canada)and Simriti Popli (Kaplan International College, UK)
DOI: 10.4018/979-8-3693-1882-9.ch003


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This chapter traces the transformative journey of Bitcoin, exploring its historical inception, technological foundations, and profound influence on the financial landscape. Unveiling the motivations and challenges faced by Satoshi Nakamoto, the chapter navigates through the birth of Bitcoin, detailing key events and initial skepticism. Examining blockchain technology, it unravels the decentralized nature and cryptographic principles that distinguish Bitcoin. The impact on the global financial stage is analyzed, addressing Bitcoin's role as a store of value, medium of exchange, and implications for central banking. The chapter also explores the evolving ecosystem, challenges, and future possibilities, serving as a comprehensive resource for researchers, professionals, and enthusiasts in the digital currency space. Readers gain profound insights, ready to navigate the complex world of decentralized cryptocurrencies and understand Bitcoin's enduring legacy.

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