“Nakamoto had solved two riddles that had dogged these cryptographers and other technology experts for a couple of decades: first, how to move something of value on the internet without a central intermediary; and relatedly, how to prevent the “double-spending” of that valuable digital token.
Subsequently, his innovation spurred the development of crypto assets and the underlying blockchain technology.
“Based upon Nakamoto’s innovation, about a dozen years later, the crypto asset class has ballooned. As of Monday, this asset class purportedly is worth about $1.6 trillion, with 77 tokens worth at least $1 billion each and 1,600 with at least a $1 million market capitalization.”-
Gary Gensler, Chairman, US Securities and Exchange Commission, ‘Remarks Before the Aspen Security Forum’, 3 August 2021
