Bitcoin’s existence began with an academic paper written in 2008 by a developer under the name of Satoshi Nakamoto.

The paper described the foundation for what was intended to be a peer-to-peer electronic cash system that was secure, affordable, and efficient far beyond conventional banking standards. The system P2P, Satoshi described was developed into open-source software and the First bitcoin transaction (also known as the Genesis Block) was confirmed on January 3, 2009