Australian entrepreneur Craig Wright claimed to be creator of Bitcoin

May 4, 2016 09:00 IST

Craig WrightAustralian entrepreneur Craig Steven Wright on 2 May 2016 publicly identified himself as the creator of Bitcoin, digital cryptocurrency. He claimed to be the real person behind the pseudonym Satoshi Nakamoto, the creator of Bitcoin, a claim that is disputed within the Bitcoin community.

Wright claimed to be the currency’s progenitor in interviews with the BBC, The Economist and GQ. He was first identified as Bitcoin’s founder in December 2015 by Wired magazine and the technology website Gizmodo, but he remained silent then.

The entrepreneur has also provided technical proof to back up his claim using coins known to be owned by Bitcoin's creator.

Members of the Bitcoin community and its core development team have also confirmed Wright’s claims.

Who is Craig Steven Wright?

Wright graduated from high school in 1987 from Padua College in Brisbane.

He was an adjunct lecturer in computer science and researcher at Charles Sturt University, where he worked on his second PhD entitled The quantification of Information systems risk.

He completed 18 SANS Institute courses and was the world's first person to receive GIAC certification in Compliance and Audits, and was a SANS Institute Mentor.

He has written or co-written several books, including The IT Regulatory and Standards Compliance Handbook: How to Survive Information Systems Audit and Assessments.

He worked in information technology for various companies, including OzEmail, K-Mart and the Australian Securities Exchange, as well as working as a security consultant for Mahindra & Mahindra.

He was the CEO of the technology firm Hotwire Preemptive Intelligence Group (Hotwire PE). Hotwire planned to launch Denariuz Bank, the world's first Bitcoin-based bank, though it encountered regulatory difficulties with the Australian Tax Office and failed in 2014.

He is the founder of cryptocurrency company DeMorgan Ltd., which received 54 million US dollars in tax incentives via AusIndustry.

What is Bitcoin?

Bitcoin is a digital asset and a payment system.

The system is peer-to-peer and transactions take place between users directly, without an intermediary.

These transactions are verified by network nodes and recorded in a public distributed ledger called the block chain, which uses bitcoin as its unit of account.

Since the system works without a central repository or single administrator, the U.S. Treasury categorizes bitcoin as a decentralized virtual currency.

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