List of world’s top 100 global finance leaders by Worth.com, lists Satoshi Nakamoto as the 44th most powerful individual in finance. Satoshi Nakamoto is a pseudonym, could be a man or a woman, a person or a group of persons who created Bitcoin, the world’s first peer-to-peer electronic cash payment protocol which has become a multi-billion dollar market containing thousands of financial and technological startups. The bitcoin creator leaves well-known personalities like Mark Zuckerberg, Kristalina Georgieva, and Paul Krugman behind.
The innovation – Bitcoin
BTC enables users to send and receive payments directly to each other without needing a payment institution. A public ledger called blockchain keeps the record of these transactions. Simply putting it practically does what a bank does, at a much cheaper and faster rate.
Bitcoin’s open-source solution, the blockchain, has gain traction over the tears and currently, some of the world’s leading corporations in the likes of IBM, Bank of America, MasterCard, and JP Morgan are patenting solutions based on it. New startups are cloning its characteristics to create their allegedly “improved” user-specific solutions.
Many consider BTC as a tool to cut down inflation-friendly fiat system. Nakamoto introduced a 21 million supply cap on the digital currency, which has made BTC scarce than gold. The digital currency can be purchased and sold in open markets like any other financial instrument. The same speculation makes Nakamoto a very rich man, as noted by Worth.com.
Nakamoto is believed to control 980,000 bitcoins—roughly 5 percent of all of the Bitcoin that can ever be mined—giving him a net worth of $19.4 billion at the currency’s high point. It’s also enough of the cryptocurrency to allow Nakamoto to flood the market and tank Bitcoin’s value if he decides to cash out—either for profit or to prove some kind of the philosophical point—however unlikely that might be.
Nobel Prize Nomination
UCLA Professor Bhagwan Chowdhry sought Nobel Prize nomination for Nakamoto in Economic Sciences in 2015. However, the Royal Swedish Academy of Sciences declined stating that they would only nominate an anonymous person if he or she revealed themselves.
The prize, as in this instance, the Sveriges Riksbank Prize in Economic Science in Memory of Alfred Nobel, is never awarded anonymously nor posthumously.
While the crypto community did feel disappointment over they also understand the reason for Satoshi Nakamoto’s secrecy.