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CoinGeek Backstage with Dr. Craig Wright: India is critical to my vision for Bitcoin

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dr Craig Wright launched Bitcoin with a bold vision—to have 5 billion people using Bitcoin globally. While he has faced opposition, slander, and hostility since 2009, he still fights for his vision for bitcoin today. As he revealed to CoinGeek Backstage, India is critical to this vision, and he believes the country holds the key to global Bitcoin adoption.

dr Wright was at the inaugural Enterprise Utility Blockchain Summit (EUBS), where he delivered a keynote presentation and participated in a panel discussion. On the sidelines of the event, CoinGeek Backstage host Claire Celdran caught up with the Bitcoin creator, who shared his thoughts on Bitcoin, regulations, IPv6, and more.

Satoshi has been very active traveling around the world recently, attending conferences and educating people about Bitcoin. He believes there’s a lot of misinformation about Bitcoin and is playing his part in getting rid of that.

One of the common messages he has strived to hammer home is that “Bitcoin is not crypto. It follows all the existing regulations and laws.”

India has been one of the world’s biggest Bitcoin and blockchain hubs over the past few years. While the government hasn’t always been supportive of digital assets, the people have taken to Bitcoin in their millions. Chainalysis ranked the country fourth in its 2022 global adoption index and first in DeFi value received, as well as centralized service value.

India is critical for Dr. Wright’s vision for Bitcoin, he told CoinGeek Backstage. He envisions Bitcoin hitting 5 billion daily users, and with India accounting for 1.4 billion of the 8 billion people globally, it’s a critical market for the industry.

For India to become a Bitcoin nation, education has to be done. There’s a lot of misinformation regarding digital assets, especially now that the NFT craze has taken off.

“They’re believing the lies. They’re seeing people make money…those being conned into these schemes are the ones with the least money to spare. We need to educate people. Once they are educated and see the reality, it’s Plato’s cave all over again—once you see everything in color and three-dimensions and not just the little puppet on the background, then you can never go back,” Dr. Wright said.

For Dr Wright, all those exploiting unsuspecting investors with NFTs and ICOs “must be put to jail. They’re all conmen.”

At the EUBS, Dr. Wright talked about the integration of IPv6 with blockchain and the vast opportunities it would open up in India and beyond. And with India being one of the world’s tech centers, Dr. Wright believes it’s critical for IT professionals in the country to jump onto the IPv6 bandwagon as “it’s where the world is heading.” Already, the country is among the leaders in IPv6 adoption, and Satoshi expects this to greatly benefit Indians in the long run.

While Bitcoin adoption has soared and evolved to underpin applications such as NFTs and DeFi, Dr. Wright’s focus on making Bitcoin better and scaling it for global adoption hasn’t wavered.

“I want to scale Bitcoin to a million transactions a second within the next year,” he reiterated.

dr Wright’s vision for Bitcoin is already taking shape. Earlier this year, BSV set a world record of ten million transactions in a day and, just days later, doubled the record to hit 20 million daily transactions. This record was dwarfed in September when BSV hit 35 million daily transactions. For context, Ethereum barely hits a million transactions daily.

Watch: Enterprise Utility Blockchain Summit highlights

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New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.

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