Bhagwan Chowdhry , a Professor of Finance at the University of California Los Angeles (UCLA) has nominated Satoshi Nakamoto for the 2016 Nobel Prize in Economics. The Nobel Memorial Prize in Economic Sciences , commonly referred to as the Nobel Prize in Economics, is an award for outstanding contributions to the field of economics. It is generally regarded as the most prestigious award for that field. “The committee has invited me to nominate someone for the 2016 Prize,” writes Chowdhry in The Huffington Post . “I then started thinking whose ideas are likely to have a disruptive influence in the twenty first century. The name of the inventor of Bitcoin suddenly jumped up in my consciousness and I have not been able to get it out of my mind since then, Satoshi Nakamoto.” Will Satoshi Nakamoto, the Inventor of #Bitcoin , Win the 2016 #NobelPrize in Economics? https://t.co/NhTErS6iM9 — Bitcoin Magazine (@BitcoinMagazine) November 9, 2015 “The invention of bitcoin – a digital currency – is nothing short of revolutionary,” continues Chowdhry. “[Bitcoin] is digital and exists purely as a mathematical object. It offers many advantages over both physical and paper currencies. It is secure, relying on almost unbreakable cryptographic code, can be divided into millions of smaller sub-units, and can be transferred securely and nearly instantaneously from one person to any other person in the world with access to internet bypassing governments, central banks and financial intermediaries such as Visa, Mastercard, Paypal or commercial banks eliminating time delays and transactions costs.” Of course, Chowdhry is aware that the Nobel Committee is unlikely to accept the nomination of a pseudonymous candidate. That’s why the article’s title is “I (Shall Happily) Accept the 2016 Nobel Prize in Economics on Behalf of Satoshi Nakamoto.” “There’s no real precedent for awarding the Nobel […]
