It should go without saying: it’s unlikely that the credit for the invention of BitcoinCT r: 10 goes to a single person. Craig Wright may be Satoshi Nakamoto, but how much of the Blockchain technology is owed to him?
We already know, if the investigation brought over by Wired and Gizmodo is based on valid proof, that Craig worked with a team (“some good coders on this”). But was he the one who conceived the blockchain idea?
Alternative forms of currency are not a new idea.
As Stephen DeMeulenaere, working in the field of Complementary Currency Systems since 1991 and founder of the website ComplementaryCurrency.org explains, Mutual Credit is an old methodology still, that can date at least as back as 1934, when the Swiss bank WIR was founded, and is still in use by issuing currency in Mutual Credit between businesses.
Stephen is not a programmer but worked as a Complementary Currency Designer, researcher and promoter and is involved in several projects like Social Trade and the Cyclos payment platform, which pre-dates Bitcoin and won the grand prize at Transact 14.
“Mutual Credit is an old methodology that allows people to give each other credit within a closed network. All transactions are made public, and are potentially reversible.”
While in the Bitcoin system transactions are not reversible, by design, they are traceable, and implementing a possibility of reversal would be trivial...
Find out more:
http://cointelegraph.com/news/115848/craig-wright-may-be-satoshi-nakamoto-but-is-he-the-inventor-of-bitcoin
