Blockchain Blog

Bitcoin News for the week of 5/02/16

Welcome to our weekly bitcoin news recap, where we cover top headlines and stories in the world of bitcoin each week. This has been an interesting past few days. Early into the week, news erupted around the world when another “Satoshi” revealed himself claiming to be Bitcoin’s creator, but he has raised more questions than proofs. Consensus 2016 was held in NYC, and the 2016 Blockchain Awards took place Monday evening at the Coin Center Annual Dinner. Despite the rancor surrounding Bitcoin’s creator, headlines show interest in FinTech is surging around the world as the race to compete and disrupt the financial industry is well underway.

Read about all this news and more in our weekly rundown.

The creator of Bitcoin comes forward?

![A photo of Dr. Craig Wright, via BBC](https://blog.blockchain.com/content/images/2016/05/craig-wright-bbc-2016.jpg)
A photo of Dr. Craig Wright, via BBC
[Australian Craig Wright claims to be Bitcoin creator](http://www.bbc.com/news/technology-36168863)

Australian entrepreneur Craig Wright sparked a media frenzy when he publicly identified himself as Bitcoin creator Satoshi Nakamoto. His admission follows years of speculation about who came up with the original ideas underlying the digital cash system. Mr. Wright has supposedly provided technical proof privately to a select few well known Bitcoin users to back up his claim using coins known to be owned by Bitcoin’s creator. However, the public has yet to witness any proof that he is Satoshi.

The true identity of Satoshi Nakamoto continues to remain unknown, since Craig Wright now says he will not provide any more proof as previously indicated. Several prominent figures in Bitcoin and cryptography spoke their mind publicly about the news over the course of the week, and an overwhelming majority were skeptical. This is because Bitcoin is based on complex mathematics, so there is no grey area or necessity for trust between parties. If Wright truly is Satoshi, it would only take minutes for him to provide irrefutable proof. One of the more insightful responses to these turn of events came from Andreas Antonopoulos. In this recent Q&A, he talks about the significance of Bitcoin’s decentralized nature, and why Satoshi Nakamoto’s identity doesn’t matter at all.

The 2016 Blockchain Awards

![The Blockchain Awards, photo via Nic Cary](https://blog.blockchain.com/content/images/2016/05/blockchain-awards-2016.jpg)
The 2016 Blockchain Awards, photo via [Nic Cary](https://twitter.com/niccary)
[Bitcoin Market OpenBazaar Sweeps 2016 Blockchain Awards](http://www.coindesk.com/openbazaar-wins-2016-blockchain-awards/)

Online bitcoin-enabled marketplace OpenBazaar was the big winner at the 2016 Blockchain Awards, sponsored by Blockchain, Coin Center, and presented at the Coin Center Annual Dinner. Combined, OpenBaazar and OB1, the development firm that supports the platform, won three of the five awards offered on Monday night, including ‘Best New Startup’, ‘Bitcoin Champion of the Year’ and ‘Most Promising Consumer Application’.

The Blockchain Awards were presented as part of Consensus 2016, CoinDesk’s three-day industry conference. As part of the conference, Yahoo! Finance ran down the five biggest bitcoin and blockchain announcements at Consensus.

Interest in Bitcoin grows worldwide

![Photo of Delaware Gov. Jack Markell via NPR.org](https://blog.blockchain.com/content/images/2016/05/Delaware-Gov-Jack-Markell.jpg)
Photo of Delaware Gov. Jack Markell via NPR.org
[Not Just Bitcoin: Why The Blockchain Is A Seductive Technology To Many Industries](http://www.npr.org/sections/alltechconsidered/2016/05/04/476597296/not-just-bitcoin-why-blockchain-is-a-seductive-technology-to-many-industries)

If you’ve ever run a business, whether it’s an ice cream shop or a Fortune 500 company, then you’ve probably kept a ledger. It’s nothing fancy, just a list of transactions. It’s also at the root of a transformative technology that institutions including the U.K. government, major banks, and the state of Delaware are looking to leverage: the blockchain.

When Australian businessman Craig Wright claimed this week to be Satoshi Nakamoto, the mysterious creator of Bitcoin, he called attention once again to this high-profile cryptocurrency. Bitcoin.com says that bitcoin’s next adoption phase is imminent as public interest surges. More and more financial technology experts agree: it’s the blockchain technology underlying Bitcoin that has great potential to change how we make transactions online. As pointed out in the most recent CBS 60 Minutes episode this past week, big banks are investing in blockchain and Bitcoin technology as FinTech sweeps the world.

Industry partnerships

![Image via Bitcoinist.net](https://blog.blockchain.com/content/images/2016/05/deloitte.jpg)
Image via Bitcoinist.net
[Deloitte Announces Growing Blockchain Initiative and Services](http://bitcoinist.net/deloitte-announces-growing-blockchain-initiative/)

On Tuesday at the Consensus Conference in New York City, Deloitte announced a number of partnerships with companies in the blockchain space to develop 20 ongoing blockchain initiatives and prototypes, thereby signaling a commitment towards becoming an early mover in blockchain consulting services.

In a somewhat surprising announcement, Microsoft told the world they have become an active member of the Chamber of Digital Commerce. Cryptocurrency enthusiasts will know this name as they are a major trade organization focusing on Bitcoin’s underlying blockchain technology, how it can be used, and which possibilities are on the horizon. Major derivatives marketplace CME Group has also announced that they are working with several bitcoin exchanges to provide traders with real-time benchmarks to manage their bitcoin investments.

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