45-year-old Australian businessman is the father of Bitcoin

May 03, 2016, 10:21 IST | Agencies

Craig Wright has revealed his identity as the creator of the digital cash system

London: An Australian IT entrepreneur yesterday identified himself as the creator of digital cash system Bitcoin, ending years of speculation behind the identity of the cryptocurrency founder.

Craig Wright. Pic/BBC
Craig Wright. Pic/BBC

45-year-old Craig Wright has revealed his identity to three media organisations – the BBC, the Economist and GQ. Wright identified himself as Satoshi Nakamato, the pseudonym he created when launching the currency in 2009. He had earlier refused to comment when these three media outlets unveiled his identity in December.

But yesterday, he came forward and provided proof of his true identity as the founder of Bitcoin. In a statement, he said he is identifying himself because: “I care so passionately about my work, and also to dispel any negative myths and fears about Bitcoin.” Wright’s pseudonym was homage to Tominaga Nakamoto, a 17th century Japanese philosopher.

What is Bitcoin?
>> Bitcoin is a dominant cryptocurrency, which allows consumers to make electronic transactions without commercial banks as intermediaries. 

>> One Bitcoin is currently worth around USD 449 (Rs 29,82)

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