Worth.com lists Satoshi Nakamoto 44th on its list of the world’s 100 most influential finance leaders. Satoshi Nakamoto could be either a man or woman. He or she is the person who created Bitcoin, the first peer-to–peer electronic cash payment protocol. This market has grown to include thousands of technological and financial startups. Mark Zuckerberg and Kristalina Georgieva are no longer associated with the bitcoin creator.
Innovation – Bitcoin
BTC allows users to send and get payments to one another directly without the need for a payment institution. These transactions are kept in a public ledger known as blockchain. It does exactly what a bank does but at a lower and faster rate.
The blockchain, Bitcoin’s open-source solution has gained traction. Currently, JP Morgan, Bank of America and MasterCard are patenting solutions that were developed from it. To create “improved” solutions for their users, new startups are copying its traits.
Many see BTC as a tool for reducing inflation-friendly fiat systems. BTC has become scarcer than gold since Nakamoto placed a 21 million supply limit on it. Digital currency can be bought and sold on open markets just like any other financial instrument. Worth.com noted that Nakamoto is very wealthy due to the same speculation.
Nakamoto controls 980,000 bitcoins, which is roughly 5 percent of all Bitcoins that can be mined. This gives him a net worth around $19.4 billion. This amount of cryptocurrency is enough to allow Nakamoto, regardless of how unlikely it may be, to flood the market with bitcoins and tank its value.
Nobel Prize Nomination
UCLA Professor BhagwanChowdhry wanted to be nominated for the Nobel Prize in Economic Sciences for Nakamoto in 2015. The Royal Swedish Academy of Sciences declined to nominate Bhagwan Chowdhry, a UCLA professor. They stated that they would only nominate someone anonymous if he/she revealed their identity.
This prize, like the one in this case, the Sveriges Riksbank Prize in Economic Science in Memoriam of Alfred Nobel, has never been awarded anonymously or posthumously.
Although the crypto community was disappointed by Satoshi Nakamoto’s secretive behavior, they also understood the reasons.