Dr. Craig Wright is rumored to be Bitcoin’s creator in 2016 articles by Gizmodo and WIRED that pointed towards a possibility that he could be the man behind Bitcoin. The articles took note of the illegally leaked emails by the Australian Tax Office (ATO). The emails are a record of correspondence between Dave Klieman and Dr. Wright in 2011. The contents of the email show very specific information about 1,100,111 BTC transactions.

This massive Bitcoin holding is said to have a return date on 1st Jan 2020. Dr. Wright, from that time, has come forward and accepted his title as the creator of the Bitcoin blockchain. Due to the personal views and concerns about the future of the blockchain, Dr. Wright has become an interesting character in the crypto community. The jury is still out about the confirmation of his claims to be Satoshi.

What is Tulip Trust, and why is it the most Talked about Controversy in the Bitcoin Community?

The emails that were leaked by ATO mentioned the 1,100,111 Bitcoin were put into a trust that three members manage. The first member is Dr. Wright himself, the second member is his associate Klieman, and the third member is Romana Watts (Dr.Wright’s wife). The name of this trust is Tulip. The ownership of the fund was to shift in the event of the death of any of the members.

The trust was encrypted with Shamir’s secret sharing algorithm. The secret keys are distributed among the members, and without access to these keys, it is impossible to get unlock the mysterious contents of the Tulip Trust. One member of the trust, Klieman, has passed away, and the present owner of the trust is said to have been lost. It raises the question of whether Dr. Wright has the power to unlock the trust and access billions of dollars of Bitcoin or if he has lost the key forever. 

The Bitcoin HODLers are suing Dr. Wright for his Claims

Dr. Wright has come out as Satoshi himself and made some volatile remarks about the misuse of blockchain technology on the part of institutional investors. He says that blockchain technology has given rise to the purchase of drug abuse, pornography, and money laundering. He has also taken legal action against two websites to take down the Bitcoin whitepaper under ownership abuse claims. 

However, the Cryptocurrency Open Patent Alliance (COPA) has launched a lawsuit against the flagship cryptocurrency’s alleged creator. The COPA is created by one of the biggest Bitcoin whales and CEO of Square Inc. Jack Dorsey. Other noteworthy participants of COPA are Coinbase, Blockstream, and Ark Invest. The appeal has been launched in the U.K. High court demands that Bitcoin whitepaper is not owned by Dr. Wright. It should be noted that Dr. Wright’s claims of being Satoshi and the existence of Tulip Trust are still disputed and unproven facts.