Author Topic: The Knights Templar - Inventors of cryptocurrency in 1150 AD?  (Read 1516 times)

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Offline GaltReport


Offline Empirical1.1

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They created an ingenious system that allows pilgrims to travel without the cash and valuables which otherwise might make them targets.

In exchange for a deposit at their local Templar commandery, pilgrims would receive a note written in cipher.

Any time you needed access to your money anywhere in the Templar world, a local node could process your transaction and re-code your chip with the amended balance.

If it was found by an outsider or you were robbed it would be of very little value.
(So I presume your note was in cipher and you personally needed a passphrase/handshake to unlock it too.)

The only way to get the money out would be to crack the code.

https://www.youtube.com/watch?v=si7SOtNkNtM      30:05 - 31:30 (30 minutes into video)

So in a way it was a form of 'crypto-currency' that pre-dated BitUSD by 865 years :)

Very interesting documentary too.
« Last Edit: September 08, 2014, 04:34:38 pm by Empirical1.1 »