Banks, tech companies move on from bitcoin to blockchain

 

Bitcoin? We’ve moved on to blockchain, banks, tech companies say

Matthieu Riou, founder of the blockchain tech platform BlockCypher, said he believes Wright was “part of the whole thing” but not the sole creator of Bitcoin, which has been attributed until now to someone using the pseudonym Satoshi Nakamoto According to the BBC, Wright supported his claim by signing digital messages using cryptographic keys used during the early days of Bitcoin. Still, Wright’s claims are technically hard to verify. “The true bitcoin creator could have chosen a clear and obvious way to show his identity, or he could have conducted a convoluted and trust-requiring proof”. Knowing who actually founded bitcoin wouldn’t have any immediate effect on the digital currency. And the real Nakamoto would be rich and able to disrupt bitcoin just by selling chunks of his holdings. Who is the genuine Bitcoin founder? Nakamoto dropped off the map as Bitcoin began to attract widespread attention. Gavin Adresen said that the argument is valid however; he strongly believes that Mr. Wright is saying the truth. “I don’t want money, I don’t want fame, I don’t want adoration”. “Right now, the cryptographic "evidence” presented could have been produced by anyone". Wright couldn’t be reached for comment. Andresen said Wright used a “clean computer that could not have been tampered with” to sign the keys, but one redditor noted the shell script explained in Wright’s blog post used “was intentionally created to mislead people”. I think I am finally at peace with he meant. Some longtime backers are divided over how to expand the network so it could keep up with the growth. However, that had not deterred people from trying, as journalists, researchers and amateur detectives had scoured Nakamoto’s emails and online posts, and also the original bitcoin code, for unusual phrases, cultural references and other potential clues to their author. “I don’t believe there are significant implications for the ecosystem or underlying technology, at least not today”, said Toby Coppel, a partner at Mosaic Ventures in London, which invests in bitcoin’s underlying blockchain technology. Last year, some reports claimed Wright was the founder and that he had used a false name to mask his identity. In contrast to paper currency which is printed and distributed by a central government authority, bitcoins are “mined” with special software which issues the cryptocurrency in exchange for solving hard math problems. Others moving forward include Bank of America, Citigroup and Goldman Sachs, which is working on its own virtual currency. Advocates have promoted bitcoin as a global, decentralized currency for the Internet age, and venture capital investments in companies affiliated with the technology topped $1 billion previous year. In Australia, regulators have ruled that bitcoin should be considered an asset, rather than a currency, for taxation purposes. New bitcoins are generated all the time, when operators of number-crunching computers called miners solve complex equations and record every transaction. He was living in an upscale suburb of Sydney at the time. Bitcoin was then adopted by a small clutch of enthusiasts. In addition to numerous college degrees and a stint as a chef, his now-deleted LinkedIn profile listed him as the chief executive officer of DeMorgan Ltd. which has researched bitcoin, proposed a bank for the currency, and offers wallet and exchange services.
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