The Importance of Public Key Cryptography

In JP Morgan's library in New York City, you'll see that JP Morgan had a fascination with ancient seals. And he has a collection of these seals from thousands and some 3,000 years old. They're little rollers and 2,500 years ago, if you wanted to sign a document proving that it was authentic, you would create the document,. You would pour seal, you would seal it with clay or with wax and then you would roll this roller over it and that's like your private key. Now public key, private key cryptography was the reinvention of that in a much more mathematically precise way, thousands of years later. That's the basis of the Bitcoin

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