this post was submitted on 22 Aug 2024
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In Leaked Audio, Amazon Cloud CEO Says AI Will Soon Make Human Programmers a Thing of the Past (futurism.com)
submitted 3 months ago by shish_mish@lemmy.world to c/technology@lemmy.world
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[–] eleitl@lemm.ee 2 points 3 months ago (1 children)

What other solutions to double spending were there in financial cryptography before?

[–] EnderMB@lemmy.world 2 points 3 months ago (1 children)

No idea, I don't work in fintech, but was it a fundamental problem that required a solution?

I've worked with blockchain in the past, and the uses where it excelled were in immutable bidding contracts for shared resources between specific owners (e.g. who uses this cable at x time).

[–] eleitl@lemm.ee 3 points 3 months ago* (last edited 3 months ago)

Fully decentralized p2p cryptocurrency transactions without double spending by proof of work (improvement upon Hashcash) was done first with Bitcoin. The term fintech did not exist at the time. EDIT: looked it up, apparently first use as Fin-Tech was 1967 https://en.wikipedia.org/wiki/Fintech -- it's not the current use of the term though.