Elcoin – a new-generation currency Whitepaper

Elcoin - a new-generation currency Whitepaper

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January 3, 2009 has marked the beginning of a new era of globalization and world interconnection: the first Bitcoin transaction1 has occurred. Satoshi Nakamoto has made what was thought to be impossible – a currency and payment system not controlled by any person or organization. We know this currency as Bitcoin and the underlying technology, that powers it, as Blockchain2. It has been 6 years since people have started using Bitcoin, but only now we are starting to understand the real potential of the technology it is built on. Blockchain does to economic processes what the Internet has done to information: today, anyone can have access to the global economy on equal terms with others. In this document we talk about Elcoin, the first cryptocurrency powered by Blockchain and Smart Contracts technologies3.