By Chongchen Saelee

When I first conceived Bitcoin for my high school assignment, I had to come up with a way to simulate existing financial system or at least what I thought it was. So back in the late 1990s, people were already using credit cards (a kind of non-tangible money) but there was very little integration or user-friendly interface with the Internet. Then PayPal came along which was pretty close to “Internet money”, but was obviously just an exchange between existing currencies. (more…)