Is Craig Wright the real creator of Bitcoin?

The internet has been blowing up since it was revealed on Monday that Craig Wright is the creator of Bitcoin.

Bitcoin is a new currency that was created in 2009 by a phantom developer that went by the name Satoshi Nakamoto. The currency is unique because it allows its users to make transactions without a bank, and has grown popular enough to allow Bitcoins to be used to buy items from pizza to websites.  Nakamoto’s identity has always been shrouded in mystery, and added to the allure of the culture around Bitcoin. As of Monday, it was revealed to the world that Nakamoto is really an Australian businessman with 9 degrees. But everyone is not convinced.

This isn’t the first time the the creator of Bitcoin was said to be revealed. Just last year Wired and Gizmodo magazines claimed that Wright was Nakamoto. The reports were immediately criticized, with Wired reporting that claims of Wright as the creator of Bitcoin was a hoax. This time, Wright wrote his own blog post staking the claim as Nakamoto himself. This post was backed up by Bitcoin Foundation chief scientist Gavin Andresen, who showed support by writing a blog post of his own.

So how can we tell if Wright is really the creator of Bitcoin? It all comes down to signed cryptographic keys. Wright claims to be in possession of cryptographic keys that only the real Satoshi Nakamoto would have access to. Encryption works by using two keys, a private and public key to move data safely over the internet. Wright is claiming to have a private key that shows that he is the real Nakamoto. But even the existence of a private key has been contested. Having a private key doesn’t prove identity, it just proves that the person that is signing has access to the private key.

While Wright has taken steps to prove that with his private key, he can link to a bitcoin address mined by Satoshi Nakamoto, it makes you wonder how much it matters. Satoshi Nakamoto left the Bitcoin project. Although his work is the backbone of Bitcoin, it isn’t necessarily important to know who the real creator of Bitcoin is as far as Bitcoin’s future is concerned. But at least for now, there will still be a hint of mystery attached to Bitcoin’s creator.

Article via Mashable, 2 May 2016

Photo Vires In Numeris by Zach Copley [Creative Commons Attribution-NonCommercial-NoDerivs]


Introducing MIRLN: miscellaneous IT-related legal news

MIRLN (Miscellaneous IT-Related Legal News) is a free e-newsletter that began in 1997. It is delivered every 3 weeks to members of the American Bar Association’s Business Law Section via Business Law Today and to other members. MIRLN has about 2,000 individual subscribers; 2 of which were former Attorney Generals of the United States.

About Know Connect:

Vincent I. Polley acquired his Bachelor’s Degree in Mathematics from Harvard and his Law degree from the University of Michigan.

In 2006 and 2007, he co-chaired the Information Technology and Security Law practice group at the Dickinson Wright PLLC law firm. He helped clients prevent, plan, and effectively manage IT-related security and privacy problems. Since he was an expert in the area, he oversaw the firm’s specialized law IT assistance such as privacy and e-contracting.

Polley was co-chair of the ABA Commission on Second Season of Service, and served on the Advisory Commission for the ABA World Justice Project and the Council of the ABA’s Section of Business Law.  He’s a former member of the ABA’s Standing Committee on Law and National Security, former chair of the ABA’s Standing Committee on Technology & Information Systems, and the immediate past-chair of the ABA’s Standing Committee on CLE. Polley currently chairs the ABA Content Convergence Working Group, and is the member of the Editorial Board for the ABA Journal.

Since 1997, Polley continuously publishes posts for the Internet Law blog, MIRLN.

Subscribe to MIRLN: Send email to Vince Polley with the word “MIRLN” in the subject line.

MIRLN is licensed under the Creative Commons Attribution-Share Alike 3.0 United States License. To view a copy of this license, visit http://creativecommons.org/licenses/by-sa/3.0/us/ or send a letter to Creative Commons, 543 Howard Street, 5th Floor, San Francisco, California, 94105, USA.

Contact Information:

E-mail: info@knowconnect.com

Skype: vpolley

Twitter: @vpolley

Article via KnowConnect

Photo: Moo cards for blogging workshop via Steve Bridger [Creative Commons Attribution-NonCommercial-NoDerivs]

 

 


Social Impact Pitch

On April 5, Fruition Technology Labs held the Social Impact Pitch at the Urban Co-Lab in Austin. The Social Impact Pitch is an event for organizations to pitch project and business ideas that are focused on a SOCIAL, CIVIC or life-changing benefit.

Panelists and investors like Bob Bridge from Southwest Angel Network, Charlie Jackson from Diversity Fund, Wesley Okeke from Fruition Tech Labs, and Belinda Matingou from Texas Association of Business, Luemara Wagner of the Texas Family Justice Institute, and Preston James, and Entrepreneur in Residence (EIR) at the University of Texas at Austin, helped judge and organize the event.

Among the contestants was former Tech For Justice Hackathon+ Austin winner, Michael Curran, who left the event with the winning title.

Michael is a lawyer with experience in the field of legal technology, and he is currently focused on solving the growing problem of financial exploitation. Michael is also an officer with the State Bar of Texas Computer and Technology Section.

Michael’s pitch was based on his Guide Change business that started one year ago at the Tech for Justice hackathon sponsored by the Internet Bar Organization and others. Michael created the Guide Change platform to help institutions and administrators who seek to protect the financial estates of seniors and others who may be the targets of financial exploitation and abuse.