The double spend problem is a key challenge in digital payment systems, where a digital asset can be duplicated and used multiple times, leading to fraud. Without a central authority to verify transactions, ensuring trust and security becomes difficult. In 2009, Satoshi Nakamoto introduced Bitcoin as a solution, using a decentralized, timestamped ledger known as the blockchain. This technology ensures that once a digital asset is transferred, it cannot be spent again, effectively eliminating the double spend problem without the need for intermediaries. Bitcoin’s continued success highlights the strength and reliability of this approach.

Dr. Mufti Abdur-Rahman Mangera: