#WallStreetNews Before the issuance of Bitcoin, there were several digital cash technologies starting with the ecash technology by mathematician David Chaum in 1987, which is electronic money based on encryption protocols.[4] Stefan Brands. In 1997, Adam Back developed the hashcash technology, which is a proof of work to combat spam.[5] [6][7][8] Between 1998-2005, Wei Dai launched the idea of decentralized encryption.[9][10] Nick Szabo developed the "bit gold" project, a digital currency based on decentralization, using many elements that we find in Bitcoin, which faced a strong attack.[11][12]

There was a lot of speculation about the identity of Satoshi Nakamoto with suspects including Wei Dai, Hal Finney.[13][14] There were also some rumors about the possibility that Satoshi Nakamoto was working in the European financial sector.