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© Reuters.
We all remember what the 2008 subprime mortgage debacle was like. The situation was so destructive and almost brought down the global banking system that words like subprime mortgages, credit default swaps and collateralized debt obligations — which are normally part of investment banker’s jargon — became part of the general vocabulary.
Because of this in 2009, Satoshi Nakamoto released the very first genesis block, or block zero. Embedded in it was a quote, “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.” This was roughly at the same time protests to “Occupy Wall Street” displayed the public’s anger against the excesses of traditional finance.
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