Hal Finney’s Vision of Bitcoin-Backed Banks
In 2010, Hal Finney, a key figure in the early days of Bitcoin, shared his thoughts on Bitcoin banks. Finney, a cypherpunk and the first recipient of a BTC transaction from Satoshi Nakamoto, believed that peer-to-peer Bitcoin transactions would become rare. Instead, he foresaw a future where banks would issue digital cash backed by Bitcoin.
finney, who passed away in 2014, was a pioneer in online privacy and cryptography. He worked at PGP Corporation and created the first reusable proof-of-work system. He predicted that Bitcoin banks would issue digital cash for everyday transactions. This digital cash would be more scalable and user-friendly.
On a Bitcointalk forum,Finney discussed the role of
