Tuesday, October 19, 2021
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Statue erected for inventor Satoshi Nakamoto in Budapest

The face shines golden from under a hood: In Budapest a statue honors the inventor of the crypto currency Bitcoin. This hides under the pseudonym Satoshi Nakamoto.

His pseudonym is Satoshi Nakamoto – his true identity is still unknown: a bronze statue of the mysterious Bitcoin inventor has been unveiled in Budapest. The figure wears a hoodie with a “B” for Bitcoin on the chest and features an anonymous face. The statue was inaugurated on Thursday in a public technology park in the Hungarian capital – there is already a tribute to Apple founder Steve Jobs.

The idea for the project came from the journalist and entrepreneur Andras Györfi, who wanted to erect a monument in honor of Nakamoto and the “world of the Internet”. The anonymous inventor or the anonymous group around the world’s most famous crypto currency is a “symbolic figure”, the 38-year-old justified his project. According to the creators, the first official statue of the Bitcoin creator to date was financed by four Hungarian companies from the cryptocurrency sector.

Since it is still unclear who developed the digital currency after the financial crisis in 2008, the statue is also kept anonymous. The figure’s face shimmers golden and resembles a mirror – everyone can see themselves in the face of the statue. “The basic concept of Bitcoin is that it belongs to everyone, the people of the Internet, and that we are all satoshi,” sculptor Tamas Gilly told AFP.

Bitcoin was once created as an independent digital currency to bypass central banks. But skeptics repeatedly warn of the high fluctuations in the price of cryptocurrencies – they are often used more as an object of speculation and investment than as a means of payment, which can result in high losses. In addition, spectacular hacker attacks on cryptocurrency platforms recently made the headlines.

Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


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