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Hungary to build a statue of Bitcoin's creator Satoshi Nakamoto

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Prathamesh Sawant Follow

INDIA

Jun, 08 2021

Jun, 08 2021

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Hungary to become the world’s first country to build a statue of Bitcoin’s creator Satoshi Nakamoto. The statue will be a life-size bronze bust and will be in the capital of Hungary, Budapest. By building this statue, Hungary will also become the first country to commemorate the creator of bitcoin.


How will the statue look like since the identity of Satoshi is unknown?
As per the design sketch, Satoshi Nakamoto will be shown as a hooded figure as the real identity of Satoshi Nakamoto is still unknown. The face of the sculpture will be made of a bronze aluminum alloy and the artist will polish it extensively and make it into a  reflective surface so people can see their own reflection in the statue. The idea behind the reflection was to show and depict that ‘we are all Satoshi’.


Source of the Image- Réka Gergely

Who is behind making Satoshi Nakamoto’s statue?
The statue is designed by 2 artists,Réka Gergely and Tamás Gilly .The mastermind of this project, András Györfi says that the identity of Nakamoto does not matter. According to Györfi, Nakamoto has opened a new chapter in the history of the internet after his invention brought about the creation of new digital currencies. But what really makes the world a better place is the blockchain technology that is behind bitcoin.“It is an efficient, fair, and transparent database that eliminates distrust between people and can make the world a better place in many areas, from food supply to aid delivery,” Györfi said. And he further added that seems to be a legacy worth commemorating.

Who is funding Satoshi Nakamoto’s Statue? 
To build the statue, the project is funded by 4  organizations - Mr. Coin, Crypto Academy, Blockchain Hungary Association, and Blockchain Budapest and by the crypto community in Hungary with 27 other organizations and individuals. Approximately 3.1 million Hungarian Forints ($10903.77) have been raised to fund the statute.

Who is Satoshi Nakamoto? 

Satoshi Nakamoto is a pseudonym used by the person or persons who have created bitcoin. Nakamoto has also developed the world's first blockchain database.No one knows if Nakamoto is one person or group of people. While the exact number of bitcoins owned by Nakamoto is unknown, it is estimated Nakamoto might own 1 million bitcoin which translates to around $35 billion dollars.


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Prathamesh Sawant

CBW - External Analyst

INDIA

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