What inspired Satoshi Nakamoto to create Bitcoin?
The introduction to the Bitcoin whitepaper indicates that Satoshi Nakamoto believed the financial industry to be unsuitable for Internet commerce due to the amount of trust in financial institutions it required, the requirement that financial institutions offer dispute mediation, the reversibility of transactions, and the cost of transactions. Satoshi Nakamoto also seemed concerned about the risk of chargeback fraud, which often pressed merchants to ask for more information from their customers than should be necessary for a purchase.