The Wright brothers – Orville and Wilbur – were two American aviation pioneers generally credited with inventing, building, and flying the world's first successful motor-operated airplane.

Computer Scientists Vinton Cerf & Bob Kahn are credited with inventing the Internet Communication Protocols we use today and the system referred to as the Internet.

Ted Hoff, was an American inventor, widely known for inventing the microprocessors along with a handful of visionary colleagues working at a young Silicon Valley start-up called Intel.

And then there is Satoshi Nakamoto the pseudonym who penned the original Bitcoin Whitepaper and is the identity credited with inventing Bitcoin.

Imagine a better financial system created for everyone, no matter who you are or where you were born.

Thank you Satoshi Nakamoto

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The Need for Redistribution of Wealth and the Problem of Wealth Inequality

The World Bank describes that “the number of poor worldwide remains unacceptably high, and it is increasingly clear that the benefits of economic growth have been shared unevenly across regions and countries”

(World Bank Group, 2018, p. 23).

Along with these incidents of economic chaos, civil war and governmental collapse plague developing regions (Prahalad & Hammond, 2002). Besides, poverty is mainly driven by economic factors, which include limited access to financial services (Beck & Demirguc-Kunt, 2006) and high inflation rates (Aisen & Veiga, 2006). Moreover, studies have argued that a low level of trust (Barham, Boadway, Marchand, & Pestieau, 1995) and corrupt government institutions harm the economic development (Olken, 2006).

The Creation of Bitcoin

Because of the invention of Bitcoin, created by Satoshi Nakamoto, cryptocurrencies could provide a significant benefit by overcoming the lack of social trust and by increasing the access to financial services (Nakamoto, 2008) as they can be considered as a medium to support the growth process in developing countries by increasing financial inclusion, providing a better traceability of funds and to help people to escape poverty (Ammous, 2015).

For what he created, Satoshi Nakamoto, the inventor of Bitcoin deserves the Nobel Prize For Economics.