Travis Patron is a digital money researcher and author of The Bitcoin Revolution: An Internet of Money. Here he explains why the late American mathematician John Nash may have influenced the creation of bitcoin.
Could John Nash, someone who had been at the forefront of mathematical and economic thought into the prospect of ‘ideal money’, be justly attributed credit for the formation of the electronic cash system of cryptocurrency?
He once stated in a lecture:
“The special commodity or medium that we call money has a long and interesting history. And since we are so dependent on our use of it and so much controlled and motivated by the wish to have more of it or not to lose what we have we may become irrational in thinking about it and fail to be able to reason about it like a bout of technology, such as a radio, to be used more or less efficiently.”
Nash described the concept of ideal money as having the function of a standard of measurement and, thus, it should become comparable to the watt, the hour or a degree of temperature.