Weekly Blockchain Update

Australian Craig Wright claims to be bitcoin’s founder Satoshi Nakamoto

  • Craig Wright, an Australian academic, has claimed to be bitcoin’s mysterious founder, Satoshi Nakamoto

  • His proof, a cryptographically signed message that can only have been signed with Satoshi’s original key, has received heavy critique from cryptography experts

  • Backing up Wright’s claims is the founder of HushMail, Jon Matonis, who stated “during the London proof sessions, I had the opportunity to review the relevant data along three distinct lines: cryptographic, social, and technical. Based on what I witnessed, it is my firm belief that Craig Steven Wright satisfies all three categories,”

  • Also backing up Mr. Wright’s claims is Gavin Andresen, Chief scientist at the Bitcoin Foundation

  • Against the proof are Professor Alan Woodward, a cryptography expert from the University of Surrey, as well as Peter Todd, a core bitcoin developer. Both claim the proof provided is not sufficient and other easier methods that would suffice were suspiciously not chosen

 

Bitstamp becomes first licensed bitcoin exchange in Europe

  • Luxembourg has granted a license to bitcoin exchange Bitstamp making it Europe's first fully regulated payment institution for the cryptocurrency

  • Bitstamp received the license, which goes into effect on July 1st, as part of a two-year application process that tested its security and customer protection systems.

  • "We are proud to have taken this important step for our customers and the digital currency/blockchain industry globally." said Nejc Kodric, co-founder and CEO of Bitstamp

 

British government more positive towards bitcoin

  • The United Kingdom’s government is researching how to pay out and monitor taxpayer-funded research grants using bitcoin

  • “Monitoring and controlling the use of grants is incredibly complex. A blockchain, accessible to all the parties involved, might be a better way of solving that problem” said Matthew Hancock, the minister for the Cabinet Office

  • “There are a number of areas blockchains can be used, including government grants. It can be used to track the money and it gets taxpayers a better deal”

  • The UK government has continuously grown its support for the use and research of bitcoin and blockchain technology and grants of a total of £10 million have been invested in further research

  • Additionally, the UK government’s chief scientist stated in January “if blockchain technology is applied within government, it could reduce costs, increase transparency, improve citizens’ financial inclusion and promote innovation and economic growth”