đ„ THE MAN WHO SAVED CRYPTO FROM THOSE WHO CONTROL THE WORLD đ
I will begin with Frederick Hayekâs quote:
"I don't believe we shall ever have a good money again before we take the thing out of the hands of government... All we can do is by some sly roundabout way introduce something that they can't stop."
â Friedrich Hayek, 1984
This is where David Chaum comes in.
As an early researcher in cryptography, he founded Ecash, whichâback thenâwas a brilliant solution to the already broken credit card system. đłđ„
But there was a problem...
The solution he offered was considered illegal by the U.S. National Security Agency, because they wanted to keep such technology a secret.
Yet David didnât back down.
He applied his work to cryptography, famously stating:
"The difference between a bad electronic cash system and a well-developed digital cash will determine whether we will have a dictatorship or a democracy."
This moral compass is what led him to resist the government in order to set cryptography free. đâïž
He risked being jailed...
He turned down Bill Gatesâ offer to buy Ecash đ°đ«
...and rejected many other big-time investors.
Because to him, this invention was about freedomâand it was far too important to trust in the hands of others. đïžđ§
Because he resisted fear and greed,
crypto and blockchain get to exist todayâfor the entire world to access. đđ„
This is why David Chaum is the Grandfather of Crypto. đ§±đ