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Australian entrepreneur claims he founded Bitcoin

By Allen Cone

LONDON, May 2 (UPI) -- An Australian entrepreneur claims he created the online currency Bitcoin.

Craig Steven Wright told three media organizations -- BBC, The Economist and GQ -- that he is the founder of the virtual currency.

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"I didn't take the decision lightly to make my identity public," Wright said in a news release, "and I want to be clear that I'm doing this because I care so passionately about my work, and also to dispel any negative myths and fears about Bitcoin."

Originally the developer went by the name Satoshi Nakamoto when it surfaced in 2009. Satoshi communicated only via electronic message but ended all communication in 2011.

Bitcoin started out as a competitor to existing currencies. Businesses have embraced the technology and other virtual currencies have evolved, such as Ethereum.

With Bitcoin, virtual tokens are used rather than physical coins or paper.

Wright supported his claim with digitally signed messages using cryptographic keys linked to blocks of Bitcoins.

Prominent members of the Bitcoin community confirmed he's the creator.

Gavin Andresen, chief scientist at the Bitcoin Foundation, published a blog backing his claim. "I believe Craig Steven Wright is the person who invented Bitcoin," he wrote.

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Jon Matonis, an economist and one of the founding directors of the Bitcoin Foundation, agrees.

"During the London proof sessions, I had the opportunity to review the relevant data along three distinct lines: cryptographic, social, and technical," he said. "It is my firm belief that Craig Wright satisfies all three categories."

But doubts remain.

In its article about Wright, The Economist said "important questions remain" about whether he is the developer.

Some crytographers and developers said they had trouble getting verifiable information out of the information.

Security expert Dan Kaminsky told the BBC said the procedure was almost "maliciously resistant" to validation.

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