This document discusses the history and challenges of blockchains and their use with IoT. It covers the evolution of technologies pre-bitcoin like TCP, RSA, and hashcash that led to bitcoin being introduced in 2009. It then explains how public/private keys and transactions work with blockchains. Some challenges with blockchains and IoT are also summarized like interface/UX, certification of data, security, privacy, and governance of infrastructure. The document concludes with a brief mention of initial coin offerings.