nChain’s Craig Wright Predicts Gloomy Future For Bitcoin (BTC), Ethereum (ETH) And BCH
Craig Wright – The Future’s Gloomy For BTC, BCH And ETH
Craig Wright is once again in the limelight of cryptocurrency news, this time casting doubts over the futures of Bitcoin, Bitcoin Cash and Ethereum. Wright is renowned for his contributions at nChain and the recently forked Bitcoin SV.
Wright shared his thoughts about three leading digital currencies using several posts on his Twitter timeline. He mentioned that Bitcoin, Bitcoin Cash and Ethereum all have illicit data and are not commercially operated. Craig was alluding to the security of the commercial nodes on the respective networks of the involved cryptocurrencies, as well as their corresponding legal connotations.
Apparently, Craig started his research while pursuing his Master’s in Law in 2008. This was before the introduction of Bitcoin in 2009. He concluded that the aforementioned networks were unsafe by comparing commercial nodes to home nodes. In his study, Wright established that commercial nodes were protected by the safe harbor provisions. However, organizations had to be responsible enough to access such privileges.
Additionally, Craig said that users who transact illicit materials over non-commercial nodes in the networks mentioned above are in big trouble. This was after an image portraying child abuse was allegedly found on the Bitcoin SV network. In defense of Bitcoin SV, Craig stated that the same shortcomings that allowed the picture to get into their networks are present in other blockchains, Bitcoin and Ethereum included.
Lately, Craig has been calling for the development of more apps based on the Bitcoin SV blockchain. in this regard, he recently oversaw the use of the BSV wallet as an authenticator for a smart card-based system. The application, which is built using nChain’s patented technology, uses biometric features to grant users access into the system. It is also compliant with KYC/AML procedures.
In the future, Craig is confident that Bitcoin SV will be used to improve online payments.