Categories: Crypto Capsule

Satoshi Nakamoto: Who Is Behind Bitcoin and Blockchain?

It’s believed that Satoshi Nakamoto is the pseudonymous person or persons who developed “Bitcoin” and “Blockchain”. Both words have entered the everyday vocabulary of most people in the world. The world has embraced cryptocurrency as a democratising and stable alternative to an increasingly volatile banking system.

The questions is, who is the man who created these revolutionary technologies? Cryptolydian explores the persona of Satoshi Nakamoto, the alleged creator of Blockchain technology and Bitcoin.

The Man and the Myth

Stories abound about the identity of Satoshi Nakamoto. Conspiracy theorists even go so far as to say he might be an alien or time traveler. The name Satoshi Nakamoto is probably an alias for a Japanese man born in 1975, reported None of these facts have ever been verified by an official body.

Newsweek ran a report in 2014 that named a certain Dorian Nakamoto as the “Satoshi” everyone had come to know. This has largely been true to many people in the world’s cryptocurrency community. However, some other people claim to be the real “Satoshi”.

Interestingly, Newsweek reported that Nakamoto lived a humble life in California, and left millions of dollars worth of bitcoin behind him.

Although Dorian has never explicitly confirmed that he is indeed “Satoshi”, he has unofficially been the face of the international cryptocurrency community.

Meanwhile, in October 2008, Nakamoto published the now famous white paper in which he argues for a peer to peer virtual currency system, devoid of bank and third-party involvement. This would become the blueprint for future ideas and development of cryptocurrency.

Nakamoto’s Vision for Cryptocurrency

Certainly, Nakamoto is an avid lover of libertarian policies. These ideas perhaps inspired the vision for cryptocurrency. They are embedded in its unregulated nature, its freedom from the banks and institutions of international capital.

Nakamoto in his white paper expunges the idea of the “trust-based model” and argues for an elimination of third parties in digital currency transactions. He thus foresaw the weakness of the banks and its volatility. In other words, his vision was for a world where a man can truly own his capital, devoid of government and institutional regulations and involvement.

Much more can be said about the visionary, the myth and the legend that is Satoshi Nakamoto. To sum up, this person was the pioneer who created this exciting and vibrant system we today know as cryptocurrency. Nakamoto’s alleged home country of Japan has been a leader of blockchain development.

Raïs Tarek

Journalist and lawyer, with a passion for global politics, economics and current affairs.

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