David Schwartz, the Chief Technology Officer at Ripple, stated that Satoshi Nakamoto, the creator of Bitcoin, can be considered the issuer. His comments were made during an online discussion focused on the definition of token issuance, particularly with Ripple's XRP. Schwartz emphasized that since Satoshi launched the Bitcoin network and mined its first blocks, it can be argued that he acted as the original issuer of this cryptocurrency.
According to Schwartz, Satoshi not only wrote the Bitcoin whitepaper but also supported the blockchain by mining the first blocks. He claims that this involvement is the foundation for the existence and market of Bitcoin. Therefore, Satoshi is not only a theoretically-oriented designer but also participated in the operational management during the creation of the network.
The pre-sale of Ethereum is cited for comparison.
The CEO of Ripple likened the emergence of Bitcoin to the more organized launch of Ethereum. He pointed out that Ethereum had undergone an official presale, making it easier to identify the Ethereum Foundation as the issuing entity. This comparison, presented by Schwartz, is used to illustrate the different definitions of issuance in blockchain networks.
The conversation shifted to whether Ripple can be classified as an XRP issuance unit. Schwartz clarified that the term "issuance unit" depends on interpretation. If issuance is narrowly defined as creation, Ripple may qualify. However, he emphasized that Ripple did not create a market-ready token at launch. According to him, XRP had no financial value in its early days, nor was there an ecosystem to support transactions.
XRP lacks market intention upon launch
Schwartz added that XRP was "truly worthless" at the time of its issuance. The development team was uncertain whether the ledger flow would exist, reflecting a lack of commercial intent. He explained that this difference made the launch of XRP distinct from other digital assets that were designed to engage in the market from the outset.
In the past, the public has speculated that Schwartz was connected to Satoshi Nakamoto. However, the CTO of Ripple continuously denied any links, stating that he only became aware of Bitcoin in 2011, two years after it was introduced.
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CTO Ripple stated that Satoshi played the role of the issuer of Bitcoin in the early stages.
David Schwartz, the Chief Technology Officer at Ripple, stated that Satoshi Nakamoto, the creator of Bitcoin, can be considered the issuer. His comments were made during an online discussion focused on the definition of token issuance, particularly with Ripple's XRP. Schwartz emphasized that since Satoshi launched the Bitcoin network and mined its first blocks, it can be argued that he acted as the original issuer of this cryptocurrency. According to Schwartz, Satoshi not only wrote the Bitcoin whitepaper but also supported the blockchain by mining the first blocks. He claims that this involvement is the foundation for the existence and market of Bitcoin. Therefore, Satoshi is not only a theoretically-oriented designer but also participated in the operational management during the creation of the network. The pre-sale of Ethereum is cited for comparison. The CEO of Ripple likened the emergence of Bitcoin to the more organized launch of Ethereum. He pointed out that Ethereum had undergone an official presale, making it easier to identify the Ethereum Foundation as the issuing entity. This comparison, presented by Schwartz, is used to illustrate the different definitions of issuance in blockchain networks. The conversation shifted to whether Ripple can be classified as an XRP issuance unit. Schwartz clarified that the term "issuance unit" depends on interpretation. If issuance is narrowly defined as creation, Ripple may qualify. However, he emphasized that Ripple did not create a market-ready token at launch. According to him, XRP had no financial value in its early days, nor was there an ecosystem to support transactions. XRP lacks market intention upon launch Schwartz added that XRP was "truly worthless" at the time of its issuance. The development team was uncertain whether the ledger flow would exist, reflecting a lack of commercial intent. He explained that this difference made the launch of XRP distinct from other digital assets that were designed to engage in the market from the outset. In the past, the public has speculated that Schwartz was connected to Satoshi Nakamoto. However, the CTO of Ripple continuously denied any links, stating that he only became aware of Bitcoin in 2011, two years after it was introduced.