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The seven problems were officially announced by John Tate and Michael Atiyah during a ceremony held on May 24, 2000 (at the amphithéâtre Marguerite de Navarre) in the Collège de France in Paris. [3] Grigori Perelman, who had begun work on the Poincaré conjecture in the 1990s, released his proof in 2002 and 2003. His refusal of the Clay ...
Double-spending is the unauthorized production and spending of money, either digital or conventional. It represents a monetary design problem: a good money is verifiably scarce, and where a unit of value can be spent more than once, the monetary property of scarcity is challenged.
Financial cryptography is the use of cryptography in applications in which financial loss could result from subversion of the message system. Financial cryptography is distinguished from traditional cryptography in that for most of recorded history, cryptography has been used almost entirely for military and diplomatic purposes.
The change-making problem addresses the question of finding the minimum number of coins (of certain denominations) that add up to a given amount of money. It is a special case of the integer knapsack problem , and has applications wider than just currency.
And for better or worse (but probably worse), social media makes it easy to be more involved in other people’s lives, which introduces questions about how wealthy, or cash strapped, they really are.
A proof of funds (POF) is a document such as a bank statement proving that a person or a company has the financial ability to perform a transaction or meet a potential future liability. The POF can be issued by a bank, a financial institution or a trade finance provider.
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Hashcash is a proof-of-work system used to limit email spam and denial-of-service attacks. Hashcash was proposed in 1997 by Adam Back [1] and described more formally in Back's 2002 paper "Hashcash – A Denial of Service Counter-Measure". [2] In Hashcash the client has to concatenate a random number with a string several times and hash this new ...