Craig Wright, an Australian computer scientist who claims to be the creator of Bitcoin, has announced the development of a scaling solution that can transform the world's borderless cash system.
In a post on X on November 3, Wright shared his long-term vision for the premier cryptocurrency. He envisions a future where Bitcoin becomes a useful tool for international transactions, not just a means of accumulating wealth.
Wright Unveils Bitcoin Vision and Expansion Solution
Wright revealed that he has been developing a BTC scaling solution called TerraNode for the past 15 years. He plans to fully unveil it within the next 10 years.
According to Wright, TerraNode is designed to be infinitely scalable, removing the current limitations on transaction capacity. He explains that as the network grows, it will not slow down or increase fees, making it accessible and affordable for users worldwide.
Read more: What is Bitcoin? A Guide to the Original Cryptocurrency
Wright emphasizes that TerraNode will make Bitcoin a practical means of transaction, not just a speculative asset. He believes this can make Bitcoin more accessible as a global payment method by removing barriers such as high fees and complex regulations.
"This will allow anyone, anywhere, to use Bitcoin as a practical and real means of transaction. Not as a store of value, but as a tool to connect the global economy, without borders, without barriers, and without excessive fees," Wright said.
In fact, the vision of this controversial scientist extends to making Bitcoin a tool for economic inclusion. He aims to enable people in underserved regions to transact in Bitcoin, providing fair opportunities to those excluded from traditional banking. He wants to create a system where individuals can participate in the global economy without the approval of governments or institutions.
Wright also emphasized that his mission is focused on providing the ability for people, especially those without access to traditional financial systems, to control their own money and transact immediately. His goal is to build a Bitcoin network that supports individual financial freedom.
"My mission is to build a tool, a system that empowers people. The ability for people to control their own money and transact with whomever they want, whenever they want. If that's what drew you to Bitcoin, that's what I'm working to create," Wright concluded.
Read more: Who is Satoshi Nakamoto?
Meanwhile, Wright's recent statements come as he is pursuing new legal actions. Last month, he filed a £911 billion claim against Bitcoin Core and Square, asserting that BTC represents the true version of the digital asset originally envisioned by Satoshi Nakamoto.
