The document discusses the history and development of a new technology called blockchain, which uses cryptography to allow decentralized control and verification of transactions without the need for a central authority. Blockchain was first implemented in 2009 as the underlying technology behind Bitcoin, and has since grown in popularity and found applications beyond digital currencies, including for tracking supply chains, digital identities, and smart contracts. While blockchain technology has potential benefits, concerns remain regarding its scalability, security, and environmental impact as systems require significant computing power to operate decentralized networks.

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