Introduction
The idea for processing transactions in a cryptographically secured chain of blocks was first revealed in 1991 by computer scientists Stuart Haber and W. S. Stornetta. Their objective was to ensure data privacy, security, and integrity. Nick Szabo, a legal scholar, and specialist cryptographer researched on introduction of digital money and ideated ‘Bit Gold’ in 1998 using a Blockchain platform. This was further advanced by Stefan Konst. He published improved research papers on applications of cryptographically secured chains and their implementation for designing solutions. In 2008, when subprime mortgage crisis in USA and its aftershocks were tormenting the world, came the path breaking contribution of Satoshi Nakamoto, albeit controversies about identity remaining unresolved. The objective was to liberate money from regulatory controls by introducing Bitcoin through a peer-to peer network created with Distributed Ledger Technology (DLT), synonymously known as Blockchain.
Vitalik Buter inlbrated Blockchain from the castled domain of cryptocurrency. He proved that private blockchain platforms would be efficient and effective for handling many more commercial transactions. Buterin, one of the co founders of Ethereum and contributors to Bitcoin codebase, unveiled in 2015 the second platform called Ethereum. He designed it with the embedded facility of a Smart Contract to ensure legal and regulatory compliances of transactional agreements for commercial purpose. Technology giants like Microsoft, BBVA and UBS, could foresee vast business potentials of Blockchain because of its foundationalabilities, and  speed to disrupt legacy systems. All these saw the advent of a new technological renaissance in Industry 4.0 era. Learn more  from pdf >>>>>>