The fact that the Bitcoin blockchain was created by Satoshi Nakamoto is well-known around the world. However, it remains a mystery as to who Satoshi Nakamoto really is. A computer scientist who goes by the name of Craig Wright is in a legal battle to prove that he is the one who created the blockchain. While that remains to be proved, a recent case filed by Craig has been put down by the UK court, denying him the right to claim copyright over Bitcoin Blockchain.
What ignited the copyright case was Craig’s idea of a Blockchain fork breaching his intellectual copyright rights. There are many Bitcoin forks taking a round, but the biggest of them all is Bitcoin Cash. It is currently ranked 28th in the list of digital assets, with a market capitalization of $2.56 billion. The figure has been stated and confirmed by CoinGecko.
It signals that there is a dire need to protect the Bitcoin blockchain through a copyright claim.A hurdle in the legal process is Craig’s inability to prove that he is indeed Satoshi Nakamoto. One of the ways for him to prove his claim is by presenting the private keys to the Bitcoin address of Satoshi.
Call it bad luck because Craig’s lawyers said in 2020 that he does not possess those keys, losing them after his network was allegedly hacked by bad actors. This statement was issued by his lawyers to the media. Sounds convenient with a problem that does nothing good to prove his case.
Copyright issues in the upcoming technology like cryptocurrency and blockchain are likely to pose a problem to the legal system. Judge James Miller said during the hearing that while he accepts that the law of copyright continues to face challenges in the sector, he does not see any prospect of the law as stated or otherwise to allow copyright protection of the subject matter.
Craig is unable to prove his identity by the pseudonym, and on the other hand, there is no proof of origin that he has been able to present to the court. Both are reportedly linked to his network getting hacked and him losing everything, including the private keys.
Time for the real Satoshi Nakamoto to come forward, we believe, and if it is really Craig Wright, then he may be running out of options to convince the world that he invented Bitcoin. The Australia-based computer scientist has a long road ahead, provided he is able to find another way to either keep the legal battle continuing or find a way to prove his true ownership.
Going by his tweets, he could soon be giving everything up. This is evident from a statement where he said that he had been angry for too long since he cared for external validation.
