Although Nakamoto remains a mysterious figure, his goal for creating cryptocurrency,1 in itself, was never a mystery. Simply put, he created it to take financial control back from financial elites, giving ordinary people a chance to take part in a decentralized financial system.
Bitcoin remains open-source, meaning that no one has the power to own or control it in its entirety. Its design is public and it is open for anyone to participate.
Bitcoin was a response to the Great Financial Crisis, which showed that even the world’s biggest banks can fail. It highlighted the fragility of the modern financial system and called for the decentralization of financial transactions. As such, cryptocurrency was born, and Bitcoin was one of the first options outside the traditional financial system for the public to participate in intermediate-free financial transactions.
Read the Full article2