The B-money token forms the basis of cryptocurrencies. It was created in 1998 by Wei Dai, a Computer Engineering graduate from the University of Washington, for use as an anonymous form of electronic money.
Purpose of Emergence
The purpose of its emergence is to prevent governments from being aware of and intervening in all monetary exchanges. With B-money, people could now shop and spend anonymously. B-money is actually a type of commemorative coin. It is a commemorative currency. In fact, the first commemorative coin was b-money.
B-money wanted to be able to provide the services provided by the popular cryptocurrencies in use today. However, he had no such chance. Because despite all his efforts, it was never released to the market.