On Bitcoin White Paper's 15th Anniversary, Wall Street Threatens to Swallow Its One-Time Challenger

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On Bitcoin White Paper's 15th Anniversary, Wall Street Threatens to Swallow Its One-Time Challenger
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Nick Baker is CoinDesk’s deputy editor-in-chief. He owns less than $1,000 combined of BTC and ETH.

If you were paying attention back then, you don't need to be told this, but for those who were not: Late October 2008 was an incredibly ugly time in money, markets and finance.

Satoshi Nakamoto's paper didn't explicitly say: The world needs a peer-to-peer system to move money around to replace Wall Street giants because they can't be trusted, they're falling apart, etc. But that was the vibe as folks picked up on the idea and made the Bitcoin blockchain and bitcoin.

There are the myriad blockchains like Ethereum and its associated layer-2 networks such as Polygon that run smart contracts – software designed to power various financial and other applications – and that have their own tradable tokens.) that, even to some in TradFi, represents a way to replace conventional ways of doing finance with blockchain-powered versions.

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