
In October 2008, Satoshi Nakamoto — a pseudonym used by the developer or developers of bitcoin — published a whitepaper detailing how an alternative electronic cash system could permit payments to be sent directly from one party to another, without involving a financial institution.
The document, titled "Bitcoin: A Peer-to-Peer Electronic Cash System," provided an overlook of how key aspects of Bitcoin (BTC) could support a trustless electronic cash system by using cryptographic proof.