Case file: a category that formed
Why did DigiCash fail, and when did digital cash become viable?
Formed since 2026-10-25 · ledger #29
Decentralised consensus (2009) removed the need for an issuing bank.
Short answer
DigiCash (1989) built private, cryptographic electronic cash and filed for bankruptcy in 1998 after few banks adopted it. Its design needed a trusted issuer that banks would not become. Bitcoin (2009) removed the issuer with proof-of-work consensus, a protocol invention nobody could have scheduled; dollar stablecoins such as USDC (2018) later combined the two ideas.
- Killing constraint
- Issuer-free consensus
E9 Protocol invention - Crossing
- 2009
Bitcoin's network launches in January 2009. - Who won
- Bitcoin
founded 2009
Digital cash needed someone to prevent double-spending; until 2009 that had to be a bank.
Graveyard
Companies that died proving people wanted this. Capital shown where it was disclosed.
| Company | Years | Capital | How it died | Source |
|---|---|---|---|---|
| DigiCash | 1989–1998 | — | Bankruptcy, 1998 | source M |