Printing Instructions
Setup: Print on A4 paper, double-sided if possible. Cut along card borders. Each card should measure approximately 95mm × 120mm when cut.
Recommendation: Print on cardstock (200-250gsm) for durability. Print one set per team (4-5 students).
Cards per page: 2 cards per A4 sheet. Total pages: 8 (15 cards + 1 blank/spare).
1
Cryptographic Foundations
Whitfield Diffie & Martin Hellman Publish Public-Key Cryptography
Diffie and Hellman revolutionize cryptography with their paper "New Directions in Cryptography," introducing the concept of public-key encryption. This enables secure communication between parties who have never met, solving the key distribution problem that plagued symmetric encryption. Their work lays the mathematical foundation for all future digital currency systems.
Hint: 1970s, Cold War era, before personal computers were widespread
2
Digital Cash Precursors
David Chaum Proposes eCash
Computer scientist David Chaum publishes research on anonymous digital cash using blind signatures. His cryptographic protocol allows users to make untraceable digital payments, addressing privacy concerns in electronic transactions. Chaum's work introduces concepts like blinding, which would influence later cryptocurrency designs, though his system still requires a central authority.
Hint: Early 1980s, shortly after public-key crypto gained traction
3
Digital Cash Precursors
Stuart Haber & Scott Stornetta Invent Timestamped Chain
Haber and Stornetta publish "How to Time-Stamp a Digital Document," describing a cryptographically secured chain of blocks to timestamp documents. Their system uses hash functions to link blocks together, ensuring that documents cannot be backdated or tampered with. This is the direct precursor to blockchain technology, though they didn't call it that yet.
Hint: Early 1990s, before the World Wide Web became mainstream
4
Digital Cash Precursors
Adam Back Creates HashCash
Adam Back develops HashCash, a proof-of-work system originally designed to combat email spam. The system requires senders to perform computational work before sending messages, making spam economically infeasible. HashCash's proof-of-work algorithm becomes the core mining mechanism in Bitcoin a decade later, demonstrating how computational puzzles can create digital scarcity.
Hint: Late 1990s, during the dot-com boom, when spam was becoming a problem
5
Digital Cash Precursors
Wei Dai's b-money & Nick Szabo's Bit Gold
Two cryptographers independently propose decentralized digital currency systems. Wei Dai's b-money envisions a system where computational work creates money and contracts are enforced by a collective. Nick Szabo's Bit Gold uses proof-of-work to create scarce digital tokens. Both proposals remain theoretical but heavily influence Satoshi Nakamoto's Bitcoin design.
Hint: Late 1990s, proposed on cryptography mailing lists but never implemented
6
Bitcoin Era
Satoshi Nakamoto Publishes Bitcoin Whitepaper
An anonymous person or group using the pseudonym Satoshi Nakamoto publishes "Bitcoin: A Peer-to-Peer Electronic Cash System" on a cryptography mailing list. The nine-page paper elegantly combines proof-of-work, digital signatures, and peer-to-peer networking to create the first practical solution to the double-spending problem without trusted intermediaries. This marks the birth of cryptocurrency.
Hint: October 2008, during the global financial crisis
7
Bitcoin Era
Bitcoin Genesis Block Mined
Satoshi Nakamoto mines the first Bitcoin block (Block 0), containing the now-famous message: "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks." This timestamp and headline reference proves Bitcoin's creation date and reflects skepticism about traditional banking. The Genesis Block marks the actual launch of the Bitcoin network.
Hint: January 2009, just months after the whitepaper
8
Smart Contract Era
Vitalik Buterin Proposes Ethereum
19-year-old programmer Vitalik Buterin publishes the Ethereum whitepaper, proposing a blockchain with a built-in Turing-complete programming language. Unlike Bitcoin's limited scripting, Ethereum would allow developers to create arbitrary "smart contracts" and decentralized applications. The proposal generates immediate interest in the cryptocurrency community and receives funding through a crowdsale.
Hint: Late 2013, after Bitcoin proved the blockchain concept
9
Smart Contract Era
Ethereum Mainnet Launches
After extensive development and testing, the Ethereum network officially launches with the "Frontier" release. Developers can now deploy smart contracts on a live blockchain. The platform introduces the EVM (Ethereum Virtual Machine), enabling complex decentralized applications. Ethereum's launch signals a shift from cryptocurrency-as-money to blockchain-as-platform.
Hint: July 2015, two years after the whitepaper
10
Speculation Boom
ICO Boom & CryptoKitties
Initial Coin Offerings (ICOs) explode, with projects raising billions by selling tokens on Ethereum. Meanwhile, CryptoKitties launches as a blockchain game for breeding and trading digital cats. The game becomes so popular it congests the entire Ethereum network, exposing scalability limitations but proving blockchain's potential for applications beyond finance.
Hint: 2017, during crypto's first mainstream bubble
11
DeFi Era
DeFi Summer
Decentralized Finance (DeFi) explodes with protocols like Uniswap, Compound, and Aave gaining massive adoption. Users can now trade, lend, and borrow cryptocurrency without intermediaries. "Yield farming" and liquidity mining incentivize capital deployment. DeFi Total Value Locked (TVL) surges from $1 billion to over $15 billion in months, demonstrating practical cryptoeconomic applications beyond speculation.
Hint: Summer 2020, during COVID-19 pandemic
12
Mainstream Adoption
NFT Explosion & El Salvador Adopts Bitcoin
Non-fungible tokens (NFTs) enter mainstream consciousness with multi-million dollar art sales (Beeple's $69M Christie's auction). Meanwhile, El Salvador becomes the first country to adopt Bitcoin as legal tender, a controversial move that attracts global attention. These events signal cryptocurrency's transition from niche technology to cultural and political phenomenon.
Hint: 2021, peak of crypto's second major bubble
13
Technical Maturity
Ethereum Merge (Proof-of-Stake Transition)
Ethereum successfully completes "The Merge," transitioning from energy-intensive proof-of-work to proof-of-stake consensus. This technical achievement reduces Ethereum's energy consumption by ~99.95% and fundamentally changes its economic model. The upgrade demonstrates that major blockchain networks can execute complex protocol changes, addressing environmental criticism while improving security economics.
Hint: September 2022, after years of development and delays
14
Institutional Integration
Bitcoin & Ethereum ETF Approvals
The U.S. Securities and Exchange Commission approves spot Bitcoin ETFs from major financial institutions (BlackRock, Fidelity, etc.), followed later by Ethereum ETF approvals. These exchange-traded funds allow traditional investors to gain cryptocurrency exposure through regulated products in brokerage accounts. The approvals mark cryptocurrency's integration into mainstream finance and attract billions in institutional capital.
Hint: 2024, Bitcoin ETF in January, Ethereum ETF mid-year
15
Regulatory Maturity
MiCA Regulation in Effect
The European Union's Markets in Crypto-Assets (MiCA) regulation comes into full effect, creating the world's first comprehensive regulatory framework for cryptocurrencies. MiCA establishes rules for crypto-asset issuers, trading platforms, and stablecoins, providing legal clarity across 27 EU countries. This represents a shift from regulatory uncertainty to structured oversight, potentially serving as a model for other jurisdictions.
Hint: 2025, after years of EU legislative process
SPARE CARD
Use for Notes or Custom Event
This blank card can be used for:
- Writing your own event
- Taking notes during the activity
- Replacement if a card is damaged
- Adding a 16th event for advanced groups
© Joerg Osterrieder 2025-2026. All rights reserved.