Bitcoin quarter in front of dollars

The idea of Bitcoin started in 1998

Bitcoin appeared in 2009—everyone involved in the digital asset space knows that. What if I told you that the preparations for Bitcoin to be launched started way earlier, back in 1998?

We have testimony in court documenting that claim. In the Norwegian Granath vs. Wright court case, Bitcoin inventor Dr. Craig Wright told the whole story of Bitcoin in detail. In his testimony, Dr. Wright explained how he has been working on an internet-based payment and token system since 1998. The reason for his efforts back then was to find a more efficient system for settlements and payments that could be used at the Australian Stock Exchange and in banks.

This short video shows the part of his testimony mentioning the noteworthy information.

Why is 1998 significant for Bitcoin though?

With the testimony of Dr. Wright, we have a track to follow. In the Granath vs. Wright court case, there have been plenty of other testimonies confirming Dr. Wright’s statements. However, let us try to follow the track on our own instead.

For example, I found an interview from 2014 conducted by CCTV News, showing Dr. Craig Wright as an expert in cyber security. It proves that by 2014, the inventor of Bitcoin was already consulted by news media concerning code war and more:

In the CCTV News interview, Dr. Wright says that cyberattacks are economic attacks, and for corporations to secure their infrastructure better, there would have to be an economic benefit. That is interesting because Bitcoin uses economic incentives to secure the blockchain network.

Furthermore, Dr. Wright has been active in information security matters via the GIAC. The GIAC was founded in 1999 and is specialized in technical and practical certifications for information security. On the GIAC page, one finds papers published by Dr. Wright dating back to 2007. For instance, the piece “Electronic Contracting In An Insecure World” from 2008 is still available here. Wait, electronic contracting? Ever heard of Bitcoin’s smart contract capabilities?

In Dr. Wright’s article Solving Double-Spending, the academic evolution of electronic cash is reviewed and discussed. That article is a ride through the history of digital payment systems going back to authors from 1994 – and answers how Bitcoin has solved the electronic cash puzzle once and for all.

Satoshi Nakamoto mentioned Bitcoin and IPv6 in 2014

What really baffles my mind is a video from 2014, in which Dr. Wright discussed the combination of IPv6 and Bitcoin. Back then, Dr. Wright said:

Bitcoin is the foundation of a secure internet. We won’t have SSL in the future, we will have IPv6, enabling end-to-end communications. And Bitcoin can actually be integrated into that now. Most people don’t realize that, but it will enable secure, firewalled, end-to-end mobile domains.

That was in 2014, and for almost eight years—up until now—nothing of that kind has happened. But recently, Dr. Wright connected to Latif Ladid, the Founder of the IPv6 Forum, and now experts discuss precisely the benefits of IPv6 and blockchain integration.

The above-mentioned testimony in court presented the information that the idea of Bitcoin started in 1998. We find traces of Dr. Wright being active in information technology as a professional since at least 2007. He foresaw the potential of Bitcoin and IPv6 way before anything in that direction was worked on, but now it is.

Concerning the Granath vs. Wright court case, one of the most significant testimonies came from Neville Sinclair, who has been working at BDO together with Dr. Wright. Sinclair testified that Dr. Wright pitched a project titled “Timechain” to BDO—and that was before 2008. The term “Timechain” is an early description of what a blockchain does—time stamping events on a ledger publicly.

Identity is not a democratic vote. All of the so-called Bitcoiners out there do not decide by a Twitter poll who Satoshi Nakamoto is. The whole story of Bitcoin can be read here: How Bitcoin was saved.

Furthermore, we recommend watching Dr. Craig Wright’s full testimony in court:

Watch: Dr. Craig Wright’s keynote speech: A Better Internet with IPv6 and BSV Blockchain at the BSV Global Blockchain Convention

New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.

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