Skip to main content

Bitcoin inventor nominated for 2016 Nobel Economics Prize

From 2016, the list of Nobel Prize winners could include the inventor of Bitcoin.
Satoshi Nakamoto is the widely recognized inventor of Bitcoin. They published a 2008 paper outlining the concept, and wrote the original software the underpins the internet’s most popular digital currency.

But Satoshi Nakamoto is a pseudonym, and despite some intense on-and-offline digital snooping, no-one knows anything at all about Nakamoto.
That hasn’t stopped UCLA Professor of Finance Bhagwan Chowdhry from nominating Nakamoto for the 2016 Nobel Prize in Economics.
In a Huffington Post article, Chowdhry explains his choice:
The invention of bitcoin — a digital currency — is nothing short of revolutionary…it offers many advantages over both physical and paper currencies. It is secure, relying on almost unbreakable cryptographic code, can be divided into millions of smaller sub-units, and can be transferred securely and nearly instantaneously from one person to any other person in the world with access to internet bypassing governments, central banks and financial intermediaries such as Visa, Mastercard, Paypal or commercial banks eliminating time delays and transactions costs.
Regardless of individual perception of Bitcoin—flawed drug-dealer currency or the ultimate economic tool of personal liberty—its invention is both significant and very clever.
The Nobel Memorial Prize in Economic Sciences is, as with most Nobel prizes, quite a big deal. Past laureates are a who’s who of economics.
There’s no real precedent for awarding the Nobel Prize to an unknown person (or possibly even group of people), so it’s difficult to say how the Prize committee will deal with the nomination. But even so, the fact that Bitcoin and Nobel Prize in Economics are being talked about in the same breath is significant all on its own.


Popular Posts

Why You Shouldn't Allow A Child Under 8-Years To Use a Phone

It is deadly.
Am talking consequences here. What do we know about phones? That they can browse, make call, send and receive sms, play games. But that's just a tiny speck of what a mobile phone can do.

Attend Our Morning Inspiration For Today: Quote For Your Soul

"The greatest pleasure in life is doing what people say you cannot do."
Have you ever been denied of someone's approval? It's normal tho'. But the means do not justify the end. Do what you do and focus on it. Save our quote in photo format below.