- Ripple CTO claims Satoshi acted as Bitcoin’s issuer by launching and sustaining its early blockchain operations.
- XRP had no initial value or trading structure, separating Ripple from the traditional definition of a token issuer.
- Ethereum’s structured presale stands in contrast to Bitcoin and XRP’s informal launch mechanisms.
David Schwartz, Chief Technology Officer at Ripple, has stated that Satoshi Nakamoto, the creator of Bitcoin, could be considered its issuer. His remarks came during an online discussion centered on the definition of token issuance, particularly with Ripple’s XRP. Schwartz emphasized that since Satoshi launched the Bitcoin network and mined its earliest blocks, it could be argued that he functioned as the initial issuer of the cryptocurrency.
As explained by Schwartz, Satoshi did not merely write the Bitcoin whitepaper but also assisted with the blockchain by mining its first blocks. He claimed that this involvement was the basis of the existence and marketplace of Bitcoin. As a result, Satoshi was not only a theoretically oriented designer but also participated in operations management during the very creation of the network.
The presale of Ethereum Is Cited as the comparison.
The Ripple executive likened the emergence of Bitcoin to the more organized takeoff of Ethereum. He mentioned that Ethereum experienced a formal presale, which caused it to have easier identities in labeling the Ethereum Foundation as an issuer. This comparison, shown by Schwartz, was used to demonstrate the different definitions of issuance in blockchain networks.
The conversation shifted toward whether Ripple can be classified as the issuer of XRP. Schwartz clarified that the term “issuer” depends on interpretation. If issuance is defined narrowly by creation, Ripple may qualify. However, he emphasized that Ripple did not create a market-ready token at launch. According to him, XRP had no financial value in its early days, nor was there any ecosystem to support trading.
XRP Lacked Market Intent at Launch
Schwartz added that XRP was “literally worthless” when first released. The development team was uncertain whether the ledger stream would persist, reflecting a lack of commercial intent. This distinction, he explained, sets XRP’s launch apart from other digital assets designed for market participation from the start.
Public speculation has linked Schwartz with Satoshi Nakamoto in the past. However, the Ripple CTO has consistently denied any connection, stating he only became aware of Bitcoin in 2011, two years after its introduction.
