Proposed in 1982 by David Chaum and implemented in 1989, DigiCash was a cryptographically based anonymous electronic money system. It used a protocol called "blind signatures" that allowed users to send and receive payments without the bank being able to trace the transaction. The user's software created "cyberbucks" digitally signed by the bank.

What did Satoshi take from it? The idea of using cryptography to ensure security and, in particular, the notion of privacy and anonymity in transactions. Although Bitcoin is not completely anonymous, it inherits the philosophy of using cryptographic techniques to protect the identity of transaction participants.

DigiCash faced business problems, such as lack of adoption by banks and users, and the company went bankrupt in 1998.

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