Celsius Network co-founder proposes Nobel Prize for Satoshi Nakamoto

Bitcoin creator Satoshi Nakamoto should receive the Nobel Prize in Economics for inventing the first cryptocurrency. This заявил Celsius Network co-founder and chief operating officer Daniel Leon at a conference organized by Calcalist and Bank Leumi.

“This guy [Nakamoto] has brought more financial benefits to hundreds of thousands of people than most economists in academic circles,” he added.

Daniel described cryptocurrencies as “an innovation in trust.” He explained that before these instruments, people had to rely on intermediaries such as banks and governments. With digital assets, that necessity has disappeared.

“When you lend money to your bank, it pays 0.1%, but when you borrow, you pay 7.73%. Where is the fairness? Worse still, if the lending institution fails, the government takes it over. In the event of government failure, it simply prints money — 30% of all dollars in circulation were issued in the last 18 months,” said the Celsius Network COO.

According to Daniel, “cryptocurrency turns everything on its head” — trusting “the code” rather than the intermediary is easier and safer. He also emphasised that blockchain technology enables near-instant transfers of large sums of money at low fees.

In 2021, marked its 13th anniversary of the publication of Satoshi Nakamoto’s Bitcoin white paper.

In July it was announced that a statue honoring the creator of the first cryptocurrency will be installed in Budapest.

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