Craig Wright is Not Satoshi Nakamoto; U.K Judge Confirms in a Ruling

News
  • U.K judge James Mellor ruled on Thursday that the self-proclaimed Satoshi Nakamoto, Craig Wright, was not part of the Bitcoin authors. 
  • Wright has been involved with legal actions in different jurisdictions for claiming to be Satoshi Nakamoto to own the property rights of the original software.
  • Web3 developers can now rest assured Wright will not sue them for using Bitcoin without permission.

Craig Wright is not the author of the Bitcoin (BTC) whitepaper nor the person under the pseudonym Satoshi Nakamoto, UK Judge James Mellor ruled on Thursday. As a result, it is now certain that Wright is not the creator of the Bitcoin system, despite owning a significant amount of Bitcoins mined during the early days of inception. 

“Dr Wright is not the person who created the Bitcoin System. And, he is not the author of the initial versions of the Bitcoin software,” Judge Mellor noted in the ruling.

With the historical ruling, Wright can not sue Web3 developers for using Bitcoin and the system without his consent. Furthermore, Wright cannot claim intellectual property rights over the Bitcoin network, which is currently adopted all over the world by retail traders and institutional investors.

Who is Satoshi

The real identity of Satoshi Nakamoto remains unknown but speculation remains that Halfin, who passed away in 2014, is believed to be in the early Bitcoin development team. The real identity of Satoshi Nakamoto is not important to the mass adoption of Bitcoin as it has grown to a decentralized network more than 15 years later. 

Earlier this year, someone tried to dox Satoshi Nakamoto by sending 26 Bitcoins to the Satoshi 1 account. However, the creator of Bitcoin has opted to remain underwater, perhaps for his safety and the long-term benefits of Bitcoin. 

What the Ruling Means for the Bitcoin Industry

With Wright now confirmed to be a fraud, more investors can now shelter in Bitcoin without having to worry about possible legal repercussions. The ruling will, therefore, be a huge boost for the Bitcoin bulls in the long term amid the ongoing bullish outlook.

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