February 26, 2021

Cryptheory

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Craig Wright comments on social media, software developers and Silicon Valley players

4 min read


Dr. Craig S. Wright’s latest blog post addresses some of the events that we have seen unfold in the blockchain and digital currency space over the past few days.

In, “A Comment on Social Media, Software Developers, and Silicon Valley Corporations,” Dr. Wright takes a look at the digital currency ecosystem, its participants, and how they have played a part in the progression and alteration of the blockchain and digital currency industry over the years as well as what their involvement insinuates.

Dr. Wright begins by acknowledging that the overarching goals of the blockchain and digital currency space deserve recognition and praise.

“The sentiment expressed by the many in the blockchain space, to change the world and make a system that is open to everyone and to promote financial freedom, is laudable,” says Dr. Wright. He goes on to explain how the digital currency space has taken a turn over the years. From alterations being made to Bitcoin that were not in its blueprint, to corporations and enterprising getting involved and attaching their names to a space that was originally without corporate influence. 

Dr. Wright writes, “When I started Bitcoin, no individual taking part in the project at the time maintained any liability for the software, as none of them had any influence on the decisions to implement code changes, which is different to how the project works now. Developers are now acting together for their own benefit, and thus must realise that they are subject to the risks and consequences associated with established legal systems.”

The above statement might also be alluding to the copyright and intellectual property claims that Dr. Wright has on the Bitcoin whitepaper. The whitepaper is officially hosted on Dr. Wright’s website and on BitcoinSV.com, but anyone can use the document anywhere they want as long as they are not using it to illegally pass off technology that does not follow the white paper as Bitcoin.

When using, or rather, misusing, something that you do not have ownership of, you cannot be surprised when legal action is taken against you—something we have seen take place over the last few days. This legal action will likely benefit the broader blockchain and digital currency ecosystem; Dr. Wright even says that he lit this fire in the industry because he:

…needed to get people to start to respond and to question the status quo. To do so, I needed to shake them out of their malaise. I needed them to start reacting. 

When news began circulating regarding Bitcoin whitepaper copyright and intellectual property infringement—it forced people to actually read the Bitcoin whitepaper. At that point, many people realized that something they have been calling “digital gold” is actually called, and supposed to be, “peer-to-peer electronic cash.” That being said, what Bitcoin began as is much different than what BTC and BCH turned it into. 

Lastly, Dr. Wright touches on the corporations that entered, and somehow, began to spearhead development on the BTC blockchain. 

Companies such as Square fund developers as they undertake such projects, increasing the rewards for the developers that own and control the projects. In turn, such Silicon Valley players gain access to the benefits of the projects without assuming the risks of controlling and owning the projects. It is my view that when such projects suffer negative legal judgments, the Silicon Valley companies will have to take up the job of controlling and owning the projects, exposing themselves to the same sort of liability that they have been content to leave with the developers. 

Although I found this passage a bit cryptic, we may have clarity on this in the future; Dr. Wright’s legal team has sent Square a notice of copyright enforcement action. 

“Certain corporations take advantage of the passion and integrity offered to them through developers who want to do something significant to change the world. They twist it to promote their ends, and minimise the amount of risk that they would face,” says Dr. Wright.

To find out what Dr. Craig S. Wright thinks of the events that have unfolded over the last few days regarding the Bitcoin whitepaper, the corporations and bands of individuals that have high jacked the Bitcoin protocol, as well as why he “kicked the hornet’s nest” in regard to the Bitcoin whitepaper and social media’s reaction, you can learn more in Dr. Craig S. Wright’s latest blog post, “ A Comment on Social Media, Software Developers, and Silicon Valley Corporations.”

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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