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The document discusses the history and development of a new technology called blockchain. Blockchain was originally developed for the digital currency Bitcoin in 2008 as a way to record transactions in a secure, decentralized manner without the need for a central authority. Since then, blockchain has expanded beyond cryptocurrencies and is now being applied in areas like banking, supply chain management, and digital identity verification due to its ability to securely and immutably store data and track the exchange of assets across a distributed network.

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