[{"data":1,"prerenderedAt":331},["ShallowReactive",2],{"api/learn-center-post-en-GB-adam-back":3,"en-gb/learn/people-profiles/adam-back-en-GB-seo":63,"footer-en-GB":68,"navigation-en-GB-learn-center":241,"api/learn-categories-en-GB":291},{"seo":4,"locale":25,"breadcrumbs":26,"excerpt":34,"featuredImage":35,"components":42,"title":5,"formattedPublishedAt":57,"geofencings":58,"category":59,"pagination":61,"campaignExternalId":8},{"title":5,"metaTitle":6,"metaDescription":7,"keywords":8,"metaRobots":8,"structuredData":9,"metaImage":10,"metaSocial":18,"canonicalURL":8,"localizations":19},"Who is Adam Back?","Who is Adam Back? - People Profiles","Adam Back, cryptographer and cypherpunk, is CEO of Blockstream and creator of Hashcash, the Proof of Work protocol cited in the Bitcoin whitepaper.",null,{},{"url":11,"mime":12,"ext":13,"width":14,"height":15,"name":16,"alt":17},"bitstampImageUrl/adam_back_b05971c077_c6c6688f5c.png","image/png",".png",900,451,"adam_back_b05971c077.png","",[],[20,23],{"pathname":21,"locale":22},"/learn/people-profiles/adam-back/","en",{"pathname":24,"locale":25},"/en-gb/learn/people-profiles/adam-back/","en-GB",[27,31],{"id":28,"text":29,"url":28,"asUrl":30},"/learn/people-profiles/","People profiles",true,{"id":32,"text":5,"url":24,"asUrl":33},"adam-back",false,"\u003Cp>Adam Back is a cryptographer and one of the original members of the cypherpunk movement. He’s known as the CEO of Blockstream and as the inventor of the Proof of Work protocol Hashcash, which was cited in the Bitcoin whitepaper.\u003C/p>\n",{"url":36,"mime":37,"ext":38,"width":39,"height":40,"name":41,"alt":17},"bitstampImageUrl/adam_back_3991dc516a_71a16f12c9.svg","image/svg+xml",".svg",1921,1080,"adam_back_3991dc516a.svg",[43],{"component":44,"props":45,"content":50,"secondaryContent":54,"ctas":55,"secondaryCtas":56,"ctasNoMarginTop":33},"section.full-text",{"sectionId":8,"backgroundColor":46,"paddingTop":47,"paddingBottom":47,"ordering":8,"ratio":48,"centered":33,"containerSize":49,"withoutSectionContainer":30},"White","medium","1:1","normal",{"text":51,"width":52,"align":53},"\u003Ch2>Personal history\u003C/h2>\n\u003Cp>Adam Back was born in London, United Kingdom, in 1970. He showed an early interest in computers, teaching himself the basic programming language. He went on to achieve a Ph.D. in computer science with a focus on distributed systems from the University of Exeter.  \u003C/p>\n\u003Cp>During his studies, he became interested in the academic disciplines later associated with the cypherpunk movement, including PGP encryption and electronic cash. Following graduation, he worked as a cryptography consultant.  \u003C/p>\n\u003Ch2>Achievements in cryptography\u003C/h2>\n\u003Cp>Adam Back is known as a cypherpunk, one of the cryptographers and computer scientists who worked on early digital asset research in the 1990s and 2000s alongside renowned peers such as \u003Ca href=\"https://www.bitstamp.net/learn/people-profiles/hal-finney/\">Hal Finney\u003C/a>, David Chaum, and \u003Ca href=\"https://www.bitstamp.net/learn/people-profiles/satoshi-nakamoto/\">Satoshi Nakamoto\u003C/a>.   \u003C/p>\n\u003Cp>In 1997, Back invented a system called Hashcash, which was based on the \u003Ca href=\"https://www.bitstamp.net/learn/crypto-101/what-is-proof-of-work-pow/\">Proof of Work (PoW)\u003C/a> concept that had previously been proposed by Moni Naor and Cynthia Dwork in 1993. In Hashcash, PoW is used to protect against email spam and denial-of-service (DOS) attacks by requiring a minimum amount of computational work to send an email.  \u003C/p>\n\u003Cp>Back was also the first to propose a system called “non-interactive forward secrecy” that could be used to secure emails.  \u003C/p>\n\u003Ch2>Relationship with and candidacy for Satoshi Nakamoto\u003C/h2>\n\u003Cp>Adam Back is one of the first people known to have been contacted by the mysterious creator of \u003Ca href=\"https://www.bitstamp.net/learn/cryptocurrency-guide/what-is-bitcoin-btc/\">Bitcoin\u003C/a>, Satoshi Nakamoto. He has also been positioned as a potential candidate for Satoshi's real-life identity, although he has strenuously denied this.  \u003C/p>\n\u003Cp>In 2008, Satoshi Nakamoto published the \u003Ca href=\"https://www.bitstamp.net/learn/crypto-101/bitcoin-whitepaper/\">Bitcoin whitepaper\u003C/a>, which cites Adam Back’s Hashcash as the inspiration for Bitcoin’s Proof of Work system. Over the years, as interest in Satoshi's identity grew, Back disclosed that he had corresponded with the Bitcoin creator via email, but for many years, he declined to publish the emails.  \u003C/p>\n\u003Cp>In 2020, a YouTuber released a video alleging that Back is Satoshi, citing the lack of willingness to publish the emails, along with analysis of posting behaviors on the Bitcointalk forum as circumstantial evidence. The video came amid the controversy surrounding the Bitcoin \u003Ca href=\"https://www.bitstamp.net/learn/crypto-101/what-was-the-blocksize-war/\">block size wars\u003C/a>, in which Back had been involved, advocating against the \u003Ca href=\"https://www.bitstamp.net/learn/cryptocurrency-guide/what-is-bitcoin-cash-bch/\">Bitcoin Cash\u003C/a> hard \u003Ca href=\"https://www.bitstamp.net/learn/crypto-101/exploring-bitcoin-forks/\">fork\u003C/a>.  \u003C/p>\n\u003Cp>Also in 2020, Australian computer scientist Craig Wright dropped a lawsuit against Back. Wright brought the lawsuit after Back refuted Wright’s claim to the identity of Satoshi Nakamoto. In 2024, a UK court ruled that Wright was in contempt of court for his persistent and false attempts to claim the identity of Satoshi.  \u003C/p>\n\u003Cp>As part of the legal case against Wright, Back released the 2008 emails between himself and Satoshi Nakamoto for the first time. In the emails, Back and Satoshi discuss the Bitcoin whitepaper, and Back refers Satoshi to the work of Wei Dei, another prominent cryptographer, and cypherpunk. The sequence of five emails ends on January 10, 2009, when Satoshi informs Back that Bitcoin has been launched.  \u003C/p>\n\u003Cp>Unfortunately, the emails leave no clues as to the true identity of Satoshi Nakamoto, although their publication appears to cement Back’s claim that he is not Satoshi.  \u003C/p>\n\u003Ch2>Blockstream\u003C/h2>\n\u003Cp>Adam Back is the founder and CEO of Blockstream, a blockchain development company focused on building solutions based on the Bitcoin infrastructure. Blockstream was founded in Canada in 2014 and gained early backing from high-profile investors, including Reid Hoffman, the founder of LinkedIn. During a Series B funding round in 2021, Blockstream was valued at $3.2 billion.  \u003C/p>\n\u003Cp>The company’s flagship development is the Liquid Network, which was prototyped in 2015 and officially launched in 2018. The Liquid Network is a \u003Ca href=\"https://www.bitstamp.net/learn/blockchain/what-are-layer-2-solutions/\">Layer 2\u003C/a> Bitcoin sidechain that enables enhanced functionality, including fast, confidential transactions. It supports several applications, and Blockstream offers the protocol to be deployed as a standalone federated sidechain solution.  \u003C/p>\n\u003Cp>Blockstream also provides several other services relating to Bitcoin. These include \u003Ca href=\"https://www.bitstamp.net/learn/crypto-101/what-is-crypto-mining/\">mining\u003C/a> co-location services, enabling companies to house their mining equipment in Blockstream’s data centers, and a system that allows the receipt of BTC payments via satellite.  \u003C/p>\n\u003Ch2>Adam Back essentials\u003C/h2>\n\u003Cul>\n\u003Cli>Adam Back is a cryptographer and one of the original cypherpunks, \u003C/li>\n\u003Cli>He is known for inventing Hashcash, the first iteration of proof of work, and for being the CEO of Blockstream, a firm offering blockchain development services focused on Bitcoin.  \u003C/li>\n\u003Cli>Back had an early exchange of emails with Satoshi Nakamoto and has been proposed as a candidate for Satoshi; however, the publication of the emails in 2024 appears to prove otherwise.\u003C/li>\n\u003C/ul>\n","full","left",{"text":17,"width":52,"align":53},[],[],"April 29th, 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20 3868 9628","+442038689628",{},{},{"noFollow":33,"isExternal":33,"name":230,"value":231,"isEmail":33,"isPhoneNumber":30,"isText":33,"showOnDesktop":30,"showOnMobile":30,"attachment":232,"geofencings":233},"+1 800 712 5702","+18007125702",{},{},{"noFollow":33,"isExternal":33,"name":235,"value":236,"isEmail":33,"isPhoneNumber":30,"isText":33,"showOnDesktop":30,"showOnMobile":30,"attachment":237,"geofencings":238},"+352 20 88 10 96","+35220881096",{},{},"\u003Cp>Please read the general \u003Ca href=\"/legal/risk-warning/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Risk Warning\u003C/a>, and \u003Ca href=\"/legal/uk-investment-risk-warning/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Risk Summary\u003C/a> for UK residents before investing in crypto-assets. \u003C/p>\n\u003Cp>Crypto-assets services are provided by the following Bitstamp legal entities depending on client residency: (1) Bitstamp Europe S.A., which is authorized by the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg as a payment institution (licence number Z00000012) and crypto-asset service provider (licence number N00000003); Registered address: 40, avenue Monterey, L-2163 Luxembourg, Grand Duchy of Luxembourg; Registration number: B196856; (2) Bitstamp UK Ltd., which is registered with the Financial Conduct Authority (FCA) in the UK for the provision of certain cryptoassets activities under the Money Laundering Regulations (Firm Reference Number 978690); Registered address: 5 New Street Square, EC4A 3TW London, United Kingdom; Registration number: 14174243; (3) Bitstamp Ltd.with its registered address at 5 New Street Square, EC4A 3TW London, United Kingdom and registration number: 8157033; (4) Bitstamp Global Ltd., which is registered as a Virtual Asset Service Provider in the British Virgin Islands and is supervised by the British Virgin Islands Financial Services Commission (FSC); Registered address: Floor 4, Banco Popular Building, Road Town, Tortola VG1110, British Virgin Islands; Registered number: 2086429; and (5) Bitstamp Asia Pte Ltd, which is authorized by the Monetary Authority of Singapore (MAS) as a major payment institution (licence number PS20200667); Registered address: 63 Chulia Street, OCBC Centre East, #15-01, Singapore 049514; Registered number: 202016687K;\u003C/p>\n\u003Cp>Virtual currency services to US residents are provided by Bitstamp USA, Inc., which is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. Licensed as a Money Transmitter by the New York State Department of Financial Services. Review a \u003Ca href=\"/legal/usa-inc/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">list of its licenses and other registrations\u003C/a> (NMLS number \u003Ca href=\"https://www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/1905429\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">1905429\u003C/a>) for more information; Registered address: 85 Willow Road, Menlo Park, CA 94025, United States of America; Registered number: 5481543.\u003C/p>\n\u003Cp>Investment services with regards to trading in crypto derivatives are provided by Bitstamp Financial Services Ltd., which is authorized and supervised by the Slovenian Securities Market Agency (ATVP) as a MiFiD investment firm. Trading crypto derivatives carries significant risks and may result in substantial losses. Please trade responsibly and ensure you understand the associated risks. You can find more about the risks \u003Ca href=\"/legal/financial-services/general-terms-and-conditions/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">here\u003C/a>. To help you understand the risks involved we have put together a series of \u003Ca href=\"/derivatives/key-information-documents/\" target=\"_blank\" rel=\"noopener noreferrer\">Key Information Documents (KIDs)\u003C/a> highlighting the risks and rewards related to each derivatives contract. Crypto derivatives trading is not available to customers in the US, Canada, Japan and some other countries. Bitstamp Financial Services Ltd. does not provide crypto-asset services.\u003C/p>\n\u003Cp>To find out more about which Bitstamp entity you receive services from, please check the Profile/My information in your Bitstamp account. You can read more about our legal terms, policies and disclosures \u003Ca href=\"/legal/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">here\u003C/a>.\u003C/p>\n","\u003Cp>All rights reserved © 2026 Bitstamp by Robinhood. \u003Ca href=\"https://www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/1905429\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">NMLS #1905429\u003C/a>\u003C/p>\n",{"items":242,"ready":30,"platformButtonText":287,"backButtonText":288,"logInButtonText":289,"signUpButtonText":290},[243,248,253,256,260,265,270,273,278,283],{"headerName":244,"sidemenuName":125,"url":245,"noFollow":33,"showInHeader":30,"showInSidemenu":30,"geofencings":246,"submenu":247,"tag":17},"Institutions","/en-gb/institutional-trading/",{},[],{"headerName":249,"sidemenuName":249,"url":250,"noFollow":33,"showInHeader":30,"showInSidemenu":30,"geofencings":251,"submenu":252,"tag":17},"Derivatives","/perpetual-futures/",{},[],{"headerName":140,"sidemenuName":140,"url":141,"noFollow":33,"showInHeader":30,"showInSidemenu":30,"geofencings":254,"submenu":255,"tag":17},{},[],{"headerName":257,"sidemenuName":257,"url":113,"noFollow":33,"showInHeader":30,"showInSidemenu":30,"geofencings":258,"submenu":259,"tag":17},"Mobile App",{},[],{"headerName":261,"sidemenuName":261,"url":262,"noFollow":33,"showInHeader":30,"showInSidemenu":30,"geofencings":263,"submenu":264,"tag":17},"Markets","/markets/",{},[],{"headerName":266,"sidemenuName":266,"url":267,"noFollow":33,"showInHeader":30,"showInSidemenu":30,"geofencings":268,"submenu":269,"tag":17},"Earn Stake","/en-gb/crypto-staking/",{},[],{"headerName":117,"sidemenuName":117,"url":118,"noFollow":33,"showInHeader":30,"showInSidemenu":30,"geofencings":271,"submenu":272,"tag":17},{},[],{"headerName":274,"sidemenuName":274,"url":275,"noFollow":33,"showInHeader":30,"showInSidemenu":30,"geofencings":276,"submenu":277,"tag":17},"Blog","https://blog.bitstamp.net/",{},[],{"headerName":279,"sidemenuName":279,"url":280,"noFollow":33,"showInHeader":30,"showInSidemenu":30,"geofencings":281,"submenu":282,"tag":17},"Learn","/learn/",{},[],{"headerName":284,"sidemenuName":284,"url":113,"noFollow":33,"showInHeader":33,"showInSidemenu":30,"geofencings":285,"submenu":286,"tag":17},"Get Bitstamp by Robinhood app",{},[],"Go to platform","Back","Log in","Get started",[292,296,300,304,308,312,316,319,323,327],{"title":293,"url":294,"geofencings":295},"Blockchain technology","/en-gb/learn/blockchain/",{},{"title":297,"url":298,"geofencings":299},"Company profiles","/en-gb/learn/company-profiles/",{},{"title":301,"url":302,"geofencings":303},"Crypto 101","/en-gb/learn/crypto-101/",{},{"title":305,"url":306,"geofencings":307},"Crypto definitions","/en-gb/learn/crypto-definitions/",{},{"title":309,"url":310,"geofencings":311},"Crypto trading","/en-gb/learn/crypto-trading/",{},{"title":313,"url":314,"geofencings":315},"Cryptocurrency guide","/en-gb/learn/cryptocurrency-guide/",{},{"title":29,"url":317,"geofencings":318},"/en-gb/learn/people-profiles/",{},{"title":320,"url":321,"geofencings":322},"Security","/en-gb/learn/security/",{},{"title":324,"url":325,"geofencings":326},"Tutorials","/en-gb/learn/bitstamp-tutorials/",{},{"title":328,"url":329,"geofencings":330},"Web3","/en-gb/learn/web3/",{},1772794159838]