The battle for Bitcoin: court case over inventor of cryptocurrency

A court case over the inventor of Bitcoin is underway in the UK. Australian man Craig Wright says he founded the cryptocurrency in 2008.
bitcoin inventor court case

A court case over the inventor of Bitcoin is underway in the UK.

Australian man Craig Wright says he founded the popular cryptocurrency in 2008.

However, a group of tech firms have launched legal action accusing Wright of forging his identity.

A trial is now underway to determine if Wright’s claim is untrue.

About Bitcoin

Bitcoin became the world’s first cryptocurrency and exchange platform when it launched in 2008.

The central idea behind Bitcoin was the ability to make payments without going through traditional banking channels. The digital currency runs via the ‘blockchain’, where all transactions are verified and connected in sequence.

In 2010, a man in the U.S. state of Florida made the first commercial purchase using Bitcoin when he bought two pizzas.

Who invented Bitcoin?

Bitcoin’s first ‘white paper’, a document describing how Bitcoin would work, was drafted under the name Satoshi Nakamoto.

In 2015, several tech publications named Craig Wright – an Australian scientist – as the possible creator of Bitcoin. Wright alleges he wrote the paper under the name ‘Satoshi Nakamoto’.

However, online reports questioned the claims, based on evidence Wright had forged some of his academic credentials. Nakamoto‘s identity has never been verified.

The court case

Wright has launched multiple lawsuits against people who have developed Bitcoin technology without his consent, because he claims to hold the copyright to the cryptocurrency.

Wright also brought a defamation lawsuit against a blogger and podcaster who said he wasn’t the creator of Bitcoin.

Now, a group of tech developers are suing Wright. They say he falsified his identity and that his copyright claim to Bitcoin is delaying innovations to the cryptocurrency technology.

The Cryptocurrency Open Patent Alliance (COPA) – a group of individuals and organisations linked to the crypto industry – is trying to disprove Wright’s claims in court.

COPA claims developers have been silenced by the threat of legal action from Wright. It suggested the future of the crypto industry is at stake.

The main aspect of the case seeks to prove that Wright is not Satoshi Nakamoto.

The trial

COPA’s lawyers this week alleged that Wright has committed “forgery on an industrial scale”.

Wright stands by his claims that he is the crypto founder, insisting he has never forged documents relating to his identity.

Part of Wright’s defence will also rely on proving that COPA can’t provide an alternative for who Satoshi Nakamoto could be.

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