this post was submitted on 22 Aug 2024
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What other solutions to double spending were there in financial cryptography before?
No idea, I don't work in fintech, but was it a fundamental problem that required a solution?
I've worked with blockchain in the past, and the uses where it excelled were in immutable bidding contracts for shared resources between specific owners (e.g. who uses this cable at x time).
Fully decentralized p2p cryptocurrency transactions without double spending by proof of work (improvement upon Hashcash) was done first with Bitcoin. The term fintech did not exist at the time. EDIT: looked it up, apparently first use as Fin-Tech was 1967 https://en.wikipedia.org/wiki/Fintech -- it's not the current use of the term though.