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Bitcoin founder nominated for Nobel Prize in Economics

A ULCA professor nominated the anonymous bitcoin founder known only as Satoshi Nakamoto and has offered to accept the prize on his behalf if he does not show up to claim it.


Bhagwan Chowdhry, a professor of finance from ULCA, recently nominated anonymous bitcoin founder Satoshi Nakamoto for the Nobel Prize in Economics, according to an article by Chowdhry in Huffington Post. Chowdhry said that Nakamoto deserves the prize due to the disruptive nature of bitcoin.

"Not only will Satoshi Nakamoto's contribution change the way we think about money, it is likely to upend the role central banks play in conducting monetary policy," he said.

Chowdhry also believes that bitcoin will "destroy high-cost money transfer services such as Western Union, eliminate the 2–4 percent transactions tax imposed by intermediaries such as Visa, MasterCard and Paypal, eliminate the time-consuming and expensive notary and escrow services and, indeed, transform the landscape of legal contracts completely."

Satoshi Nakamoto probably would not arrive in person to receive the reward, Chowdhry said, but he offeredd to accept it on Nakamoto's behalf.

The Nobel Committee normally contacts an award winner by telephone, but since no know knows who Satoshi Nakamoto is this might be difficult. However, the committee could simply contact him online and ask him for a bitcoin address to send the prize money.


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