Ripple’s Chief Technology Officer, David Schwartz, suggested during his 2021 deposition in the SEC v. Ripple lawsuit that Satoshi Nakamoto, the mysterious creator of Bitcoin, likely possessed a significant amount of XRP. Schwartz implied that in 2017, Nakamoto might have held a substantial quantity of the cryptocurrency.
Schwartz highlighted that while Ripple concentrated on developing a payment infrastructure centered around XRP, similar efforts were not undertaken for Bitcoin (BTC). He emphasized that Ripple’s management over XRP provided the company with a competitive edge.
When asked if Ripple’s control over XRP distinguished it from Bitcoin, Schwartz acknowledged the challenges in tracking Bitcoin’s distribution. Nevertheless, he remarked, “Satoshi, the original creator of Bitcoin, likely held a substantial amount of XRP during that period [2017].”
Documenting Ripple, an account dedicated to chronicling Ripple’s history, shared excerpts from Schwartz’s deposition.
Schwartz’s suggestion may fuel further speculation about whether he could be the real identity behind Satoshi Nakamoto. Various occurrences over the years have sparked such conjecture, including Schwartz’s remarks on Nakamoto’s XRP holdings.
Another incident prompting speculation about Schwartz’s potential link to Nakamoto is the timing of the initial development of the XRP Ledger (XRPL), coinciding with Nakamoto’s departure from Bitcoin in 2011. This aligns with Schwartz’s announcement of exploring new ventures during the same year.
Significantly, Schwartz, along with Arthur Britto and Jed McCaleb, initiated the development of XRPL. Following its launch in 2012, XRPL was adopted by Ripple as its blockchain solution.
Moreover, Nakamoto commended Ripple for constructing a dependable system that avoids excessive centralization, although his appreciation was directed towards Ryan Fugger’s original 2004 Ripple concept.
Interestingly, Nakamoto shared the pre-release version of the Bitcoin code on November 16, 2009, which happens to be Schwartz’s birthday.
It should be noted that these events, including Schwartz’s disclosure regarding Nakamoto’s substantial XRP holdings, do not confirm that the Ripple CTO is indeed the person behind Bitcoin’s pseudonymous creator.
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