Nick Szabo: Bitcoin Secures Itself and Doesn’t Ask for Permission Today

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Computer scientist and cryptographer Nick Szabo spoke on the Bitcoin 2022 conference’s main stage on Wednesday to shed light on the history preceding the invention of Bitcoin. Unbeknownst to many, Bitcoin represents the culmination of decades of research on cryptography, freedom, and privacy.

“Bitcoin can operate seamlessly…as well as bank the unbanked [because of] the fact that Bitcoin secures itself and you don’t need to ask permission,” Szabo said.

Cryptography was the necessary key to unlock the ability for Bitcoin to secure itself, and the need to remove permission from the monetary equation ultimately rest in taking power away from the government and into people’s hands, which ties back to the ideals of freedom, free markets, privacy and even Austrian economics.

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