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Less than a year after Auctomatic was created, it was sold in March 2008 to Canadian media company for $5m. It was on this programme that Shuppa was encouraged to merge with Auctomatic, an auction management system for eBay sellers developed by recent Oxford graduates Kulveer and Harjeet Taggar. The duo’s shopping app failed to secure backing from Enterprise Ireland but it did attract the attention of Silicon Valley’s Y Combinator accelerator. While a student at MIT, Irish teenager Patrick Collison set up Shuppa with his younger brother John, who was still in secondary school in Limerick. Further complications arose when a helium leak was discovered, putting the project on hold until 2009. However, the search for the Higgs boson was put on hold when a 30-tonne power transformer malfunctioned just over a week later. Another fear was that the LHC would cause an internet meltdown and around 300 data centres in 50 countries were networked together as scientists around the world, including researchers from Trinity College Dublin, were poised to start processing and analysing the vast quantities of data that would emerge.Īnd so, on 10 September, the LHC was activated and, despite the doomsday fears, the first test was successful. This so-called ‘god particle’ was first theorised decades earlier to explain the origin of mass.Īs the day of the first test approached, excitement built for some while terror grew for others who feared that the experiment could create an Earth-consuming black hole.
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In particular, the LHC set out to confirm the existence of the Higgs boson. These high-speed particles would collide, revealing the secrets of our universe by recreating conditions similar to those just after the Big Bang. The LHC was designed to push particles to nearly the speed of light as they travel through its long ring of superconducting magnets. Taking more than 10 years to build and stretching to a circumference of almost 27km, the massive circular tunnel on the Franco-Swiss border is the biggest machine ever made. While the first blockchain database was quietly devised, scientists made a big bang in September 2008 when CERN, the European research organisation, powered up the Large Hadron Collider (LHC). This idea now underpins thousands of cryptocurrencies in circulation today. It eliminated the need for centralised financial institutions and banks at a time when both were in crisis. The concept hinged on a public ledger that would prevent fraud or double-spending of digital tokens by adding to a timestamped proof-of-work chain each time a transaction occurred – a blockchain, if you will.īitcoin was designed to be used by the collective and advertised as open source, with a public design that nobody controlled.
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This paper outlined the model for a decentralised digital currency and an online payments system that would be based on “cryptographic proof instead of trust”. The true identity of the author, or authors, remains unknown to this day. A couple of months later, a nine-page document titled ‘Bitcoin: A Peer-to-Peer Electronic Cash System’ was published there, accredited to Satoshi Nakamoto. On 18 August, the website was officially registered.
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In September, the markets were in free fall, and by October, the world was in full-blown financial crisis.Īnd from the ashes of one financial model, another was born. Yahoo’s stock took a tumble when Microsoft first walked away from the deal, but that was very much in style in 2008 when the repercussions of the 2007 subprime mortgage crisis rippled across the financial world.
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A contentious back-and-forth would roll on throughout the year but, in the end, the acquisition attempt was abandoned and Yahoo CEO Jerry Yang announced he would step down amid criticism of his handling of the negotiations. A $44.6bn bid to unite the two tech powerhouses against the might of Google was rejected, prompting Microsoft to threaten a hostile takeover. The close of Gates’ tenure came amid Microsoft’s aggressive pursuit of Yahoo. March 2008 brought news of the death of futurist Arthur C Clarke and the end of an era for tech visionary Bill Gates, who stepped down from his full-time role at Microsoft. While most memories of 2008 are clouded by the recession, this year in STEM marked the origin of bitcoin and a deal that made two Irish teens millionaires.