[quickthrower2]

> We would not have cryptocurrencies or NFTs

Yes we would - that doesn't need much hardware at all. Maybe 1998 hardware (Pentium II type thing) at most? Bearing in mind security algorithms used would be scaled down anyway to suit the lower hardware in the hypothetical scenario, and hash rate would of course be lower.

[mayank]

Exactly! Hashcash was proposed in 1997: https://en.m.wikipedia.org/wiki/Hashcash similar mechanics for a different use case