Bitcoin Inventor Satoshi Nakamoto Nominated For Nobel Prize

A professor of finance at UCLA has nominated Satoshi Nakamoto, the creator of Bitcoin, for a Nobel prize in economics. (Bitcoin is a semi-private method of transferring money. It isn’t completely anonymous but transactions are very difficult to trace.) Professor Bhagwan Chowdhr made the nomination stating that Bitcoin is perhaps the most disruptive influence in the twenty-first century.

Chowdhr wrote, “The invention of bitcoin — a digital currency — is nothing short of revolutionary. It offers many advantages over both physical and paper currencies. It is secure, relying on almost unbreakable cryptographic code, can be divided into millions of smaller sub-units, and can be transferred securely and nearly instantaneously from one person to any other person in the world with access to internet, bypassing governments, central banks and financial intermediaries.” All of this resulted from a a nine-page white paper titled, Bitcoin: A Peer-to-Peer Electronic Cash System that Satoshi Nakamoto posted on the Internet on May 24, 2009 at https://bitcoin.org/bitcoin.pdf.

Satoshi Nakamoto’s Bitcoin Protocol has also spawned exciting innovations in the FinTech space by showing how financial contracts — not just currencies — can be digitized, securely verified and stored, and transferred instantaneously from one party to another.

You can read more at http://goo.gl/e9ua92.

There is but one problem: Satoshi Nakamoto appears to be a pseudonym and the inventor of Bitcoins has never been positively identified. (A couple of claims have been made about his identity but have not been proven.) Nobody has ever met him in person, no photos exist. You can read Who is Satoshi Nakamoto? in The Economist at http://www.economist.com/blogs/economist-explains/2015/11/economist-explains-1.

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