Nepal too is controlling withdrawals from banks fear- ing that its money is going without account into cryptocurrency, giving further burdening its already reduced foreign reserves.
Since then, a person or a group of persons going by the name of Satoshi Nakamoto pioneered blockchain technology to successfully deploy a currency known as Bitcoin.
Cryptographer David Chaum first proposed a blockchain-like protocol in 1982, which was further developed by Stuart Haber and W Scott Stornetta in the 1990s.
In simple terms, a blockchain is an advanced digital ledger system where each ledger or block of data is connected to another ledger or block of data via a chain in the decentralised network, hence the name “blockchain”.