How the original Bitcoin protocol reappeared
LONDON, July 8, 2022 / PRNewswire / – CoinGeek has delved into the history of the Original Bitcoin Protocol: Bitcoin launch in 2009 promised to be as transformative as the introduction of the “horseless carriage” was to 20th century transport. However, follows Satoshi NakamotoWhen they withdrew from the public stage, the Bitcoin Core developers who took control of the protocol had imposed a new protocol.
However, timely intervention of Calvin Ayre and Stefan Matthewswhich helped facilitate Satoshi’s return in the form of Dr. Craig Wright and steered Bitcoin back to its original trajectory. So here we go back to the steps that the Bitcoin protocol was restored through.
Bet on Bitcoin
In the first decade of this millennium, Matthews worked as Chief Information Officer for the Australian online sports betting operator Centrebet. In 2005, Centrebet’s owners planned an initial public tender and brought in BDO’s accounting network to carry out the necessary audits.
Among the three employees that BDO sent to Centrebet was none other than Dr. Wright, who served as auditor. To be SydneyWright was based on BDO employees who spent the most time at Centrebet engaging with Matthews’ team.
Fast forward to 2008 and Wright contacted Matthews to tell him that he had left BDO to start his own company. Wright asked Matthews to consider him for any future contract / consulting work, and Centrebet occasionally hired Wright to handle firewalls, security policies and the like.
In time, Centrebet decided that a subcommittee was needed to oversee security issues. Matthews was asked to lead this subcommittee and recommended Wright as an independent management consultant.
On one of Wright’s visits in July or August 2008he gave Matthews a USB stick and said it contained a document he wanted Matthews to read.
Matthews does not remember if the document was credited Satoshi Nakamotobut remember that it became the title ‘Bitcoin’ and the text was close to it white paper released later that year.
So in March or April 2009Wright went into Matthews’ office and asked him about it $ 500. Matthews thought Wright was asking for a loan, but Wright said he wanted to give Matthews 50,000 Bitcoins in exchange. Matthews thanks.
Something in Ayre
Not long after this, Matthews left Centrebet and moved to London to work for online gambling operator Bodog UK. Matthews later moved to Manila to lead the global IT group for both the main brand Bodog and Bodog Asia.
In 2014, Matthews was looking for new challenges and traveled to Antigua to meet Ayre, who was looking to start a venture capital alert. Ayre encouraged Matthews to return to The Philippines and explore predominantly technology-focused investment opportunities in Asia.
In April, Wright contacted Matthews again, this time with a more specific concern. In recent years, Wright had assembled a team of 45 members to work on Bitcoin and blockchain-related research, and funded these operations by liquidating his Bitcoin holdings. He had sold coins not associated with Satoshi, since moving coins linked to Bitcoin’s creator would complicate Wright’s problems with the Australian Tax Office (ATO).
Wright had not previously explored the commercialization of his research, but now put Matthews on the idea of investing in his business. Matthews had another trip Sydney on his schedule and agreed to meet with Wright to discuss the matter further.
Before the meeting, Matthews finally started google Bitcoin, which led him to a copy of the White Paper. Matthews sat at the computer in the hotel room and realized that he had read this document before.
After this meeting, Matthews contacted Ayre, asking if he had heard of Bitcoin. Given the critical role of payment processing in online gambling, Ayre was clearly aware of Bitcoin. Matthews then asked if Ayre knew who Satoshi was. Ayre said no, even though he was aware of the mystery surrounding Satoshi’s true identity. Matthews told of his affair with Wright and suggested that the three meet.
The trio met later in Vancouver, a meeting that laid the foundation for storing the original Bitcoin protocol. At the end of these conversations, Ayre Wright gave his “marching orders” – go back to Australia and “prepare for due diligence.”
Not long after, a term sheet was prepared for Ayre’s approval. The term sheet was signed at Wright’s office on June 29, 2015.
The agreement, brokered by Ayre, would create a company to acquire 100% of the IP belonging to all of Wright’s Australian companies, as well as the Bitcoin / blockchain-related IP personally owned by Wright, along with the rights to Wright’s life history. In return, Wright received funding to re-employ employees, restart research, and pay his ATO-related legal bills.
nChain Holdings was set up in London with office space and Wright and his wife Ramona found a place to live Wimbledon.
Matthews was on Sydney airport waiting to fly to Manila when he was called informing him The cable and Gizmodo stories about Wright as Satoshi. Shortly afterwards, Matthews received a new phone call informing him that Australian federal police had swarmed Wrights earlier. Sydney office.
Matthews left the airport and drove to Wright’s office. The ATO had asked police to seize digital records to determine if Wright’s office was at the forefront of justifying fraudulent subsidy claims. Expecting to find no research, a forensic team member told Matthews sheepishly that he was surprised by the amount of data they discovered. Matthews later said the large number Bitcoin-related patent applications which nChain later submitted is good evidence that Wright’s office was not engaged in any fraudulent activity.
Ayre then funded the launch of CoinGeek Media to advance Wright’s vision of restoring the Bitcoin protocol. large block, multifunctional toolwhich culminated in the release of the original protocol Bitcoin from all artificial restrictions in 2018. However, it was forced to trade under the new ticker BSV.
Ayre and Matthews also invested in a public cloud computing data infrastructure company that supported global blockchain applications. This company renamed as TAAL distributed information technology (CSE:LANGUAGE | FWB: 9SQ1 | OTC: TALE), with a dedicated focus on mining and BSV’s future transaction economics. LANGUAGE is now the world’s largest author of transactions to a public blockchain.
Matthews served as CEO of nChain, and later took on the role of TAAL’s CEO / Chairman of the Board. Ayre funded the launch of Bitcoin Association, of which both he and Matthews were founding members. The association is the group behind the original protocol that now closely follows the White Paper, including rollout Simplified payment verification (SPV), also known as the Secret Sauce of Unlimited Enterprise Scaling.
Ayre also created Ayre Ventures, the first and largest venture capital fund to support start-up companies that utilize BSV’s superpowers. Ayre Ventures has also financed nChainwhich is now the world’s largest owner of base blockchain IP to enable scaling and use at the enterprise level.
In 2018, the Ayre CoinGeek Conference debuted, which will hold its 10thth arrangement i London in 2023 under its new name BSV Global Blockchain Convention.
Wright continues to file multiple patents and is now a global keynote speaker IEEE conference series with professor Latif Ladid explains how original Bitcoin was always designed for integrate with IPv6 and enables next-generation data valuation over the Internet. Only those who support rival technologies or with axes to grind refuse to accept Dr. Wright as the sole inventor of Bitcoin.
The small-block developers who changed the Bitcoin protocol a decade ago allowed users proprietary side chains of eliminates capacity in the chain. In the process, they also tried to neutralize the original Bitcoin protocol via older financial giants who supported these developers.
SOURCE CoinGeek
