Self-Proclaimed Bitcoin Creator Craig Wright Explains Origin Behind 'Satoshi Nakamoto' Name

Michael LaVere
  • Australian computer scientist Craig Wright provided a document supporting the origin of the name 'Satoshi Nakamoto'.
  • Wright says the name is in homage to Japanese economist Tominaga Nakamoto, who he compares to Adam Smith. 

Australian computer scientist Craig Wright, who claims to be Bitcoin’s original inventor Satoshi Nakamoto, has supplied a document supporting the origin of the name. 

In an interview with the news outlet Modern Consensus, Wright provided evidence of a document from an article dated Jan. 5, 2008, a year before the original release of bitcoin. The article was pulled from JSTOR, a digital database of academic journals, and concerns an individual named Tominaga Nakamoto who lived in Japan between 1715 and 1746. 

According to the copy provided by Wright, the document includes a handwritten note that says, 

Nakamoto is the Japanese Adam Smith. Honest Ledger + Micro Cash. Satoshi is intelligence History. Not too hard.

Wright claims to have chosen the name Satoshi Nakamoto in honor of the Tominaga Nakamoto outlined in the article.  Wright explained how Tominaga’s economic views were similar to his own, 

In part, yes. He wrote about money and honest money and the rational nature of things. The shogun [feudal ruler] at the time was in financial crisis, and economic austerity. [...] I like the description of him, and I got into his brother, Tōka. ‘Nakamoto was upright and quiet but impatient in character’ and I thought: ‘That sounds like me.’

Wright said the ‘Satoshi’ portion of the name means “intelligent learning” and refers to having acquired knowledge from his ancestors. 

Despite Wright's claims, he hasn't so far been able to sign transactions associated with bitcoin's Genesis block, which would prove he did indeed create the flagship cryptocurrency. So far, documents he provided and other types of proof have been rejected by most of the cryptocurrency community.

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Binance Acquires Crypto Debit Card Issuer for an Undisclosed Sum

Leading cryptocurrency exchange Binance has acquired cryptocurrency debit card issuer Swipe for an undisclosed sum, in a deal that gets the platform one step closer to issuing its Binance Card.

Finance Magnates reports the firms shared revealed the companies will “work together to further mainstream adoption of cryptocurrencies,” by further bringing fiat and digital assets together. The deal will allow for cryptos to be used as a payment method in the traditional financial system.

Binance unveiled its plan to launch a Visa crypto debit card earlier this year, but was having difficulties implementing it. The acquisition of crypto start Swipe should help fix these difficulties and support the exchange in its “mission of making crypto more accessible to the masses.”

Per Binance CEO Changpeng Zhao, off-ramps are a key component to be considered in its mission. He added:

By giving users the ability to convert and spend crypto directly, and have merchants still seamlessly accept fiat, this will make the crypto experience much better for everyone.

Binance and Swipe listed each other’s native tokens as part of the deal. Binance now has trading pairs for Swipe’s SXP token, while the Binance Coin (BNB) was added to the cryptocurrencies, stablecoins, and fiat currencies available as a payment method on Swipe.

Swipe, it’s worth noting, converts cryptoassets into fiat currencies at the point of purchase. Users pay in a cryptoassets of their choice, which is then converted into fiat currency the merchant receives, so the latter does not have to manage cryptoassets, or accept payments in them directly.

Swipe’s cards are issued by Contis Financial Services, a visa Principal Member regulated by the UK’s Financial Conduct Authority. They are available in 31 countries within the European Economic Area, and support transactions in euros, pounds, U.S. dollars, Korean won, and Philippine pesos.

The firm’s CEO Joselito Lizarondo revealed partnering will Binance will “place Swipe in the position to make cryptocurrencies more accessible for millions of users worldwide.” Binance Card users will be able to get up to 4% cashback in bitcoin on their purchases, which will be available in over 50 million locations in the world.

Featured image via Pixabay.