A surprising statement from a senior official at the People's Bank of China (PBC) reignites the debate on the intellectual legitimacy of Bitcoin and its mysterious creator, Satoshi Nakamoto.
An unexpected tribute from China
Lu Lei, vice-governor of the Central Bank of China, created a surprise in his book published in 2021 by placing Satoshi Nakamoto, the anonymous creator of Bitcoin, on the same level as Robert Mundell, winner of the Nobel Prize in economics.
“ In the field of forecasting and practicing monetary economics, there are two people who deserve great respect: Robert Mundell, who has just passed away, and Satoshi Nakamoto, who is still unknown” , has writing the senior Chinese official.
This exceptional recognition coming from one of the highest Chinese monetary officials marks a turning point in the institutional perception of Bitcoin.
Two monetary visions with different destinies
Lu Lei's analysis highlights the contrasting journey of these two monetary innovators. Mundell, despite his major theoretical contribution with the euro and his vision of a global monetary system unified around the dollar, did not see his ambitions fully realized.
As for Satoshi Nakamoto’s Bitcoin, it gradually transformed into “ an extremely expensive digital asset, which is increasingly moving away from circulating currency“, according to the vice-governor.
This recognition by the BPC is of particular importance as the institution develops its own digital currency. It demonstrates that central banks, rather than rejecting innovations like Bitcoin, seek to learn from them for their future development.
Although Satoshi Nakamoto cannot receive the Nobel Prize due to his anonymity, this validation by a major monetary authority constitutes a significant form of institutional recognition of his contribution to the modern monetary economy.
Maximize your Tremplin.io experience with our 'Read to Earn' program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.
