Australian reveals himself as the Creator of the Bitcoin

By | December 17, 2017

On Monday an Australian Craig Wright revealed himself as the creator of the virtual currency called Bitcoin to The BBC, The Economist, GQ magazine and other media outlets. This after years of speculation about who was behind this digital cash system.

Craig Write was long rumoured to be associated with Bitcoin; this revelation would bring the end to one of the biggest mysteries in the tech world. BBC News said that Wright told them he is the man previously known by the pseudonym Satoshi Nakamoto.

Bitcoin’s founder was always shrouded in uncertainty and the media could never pinpoint the person responsible. This lead to a series of investigations. Last year some reports pointed to Wright as the founder and was using an alias to hide his identity.

Why Wright Revealed Himself

Bitcoin

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Wright said he decided to make his identity known to stop the false information making its rounds.

I didn’t take the decision lightly to make my identity public and I want to be clear that I’m doing this because I care so passionately about my work and also to dispel any negative myths and fears, he said.

Wright went on saying that Bitcoin and Blockchain (the technical innovation that makes the currency possible), can change the world for the better. He added that he would now be able to release his research, so that people will realise Bitcoin’s potential.

Bitcoin is designed for secure financial transactions that require no central authority – no banks, no government regulators. That makes it attractive to off-the-grid types such as libertarians, people who want to evade tax authorities, and criminals, even though Bitcoin doesn’t guarantee anonymity, since it documents every transaction in a public forum.

Is this for Real!

Wright support his claim to being the founder by signed digital messages using cryptographic keys during the early days of Bitcoin. Nakamoto is believed to own about 1 million Bitcoins and because Wright claims he is the man going by this pseudonym, it makes Wright an extremely wealthy person. 1 million Bitcoins is worth about $450 million when converted to cash.

One of the founding directors of the Bitcoin Foundation, Jon Matonis, that helps support the use of the virtual currency told BBC that he supports Wright’s claim and that Wright is responsible for a brilliant achievement.

The Bitcoin Mystery is Over

For some time, while trying to locate Bitcoin’s founder, the focus was on a Finnish sociologist, a Japanese math whiz and a Japanese-American engineer. However, in December, the technology magazine Wired and the website Gizmodo both published their findings, after a lengthy investigation, that Wright was probably the man behind the Nakamoto pseudonym.

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