In the second episode of ‘Hashing It Out’, CoinGeek welcomed Dr Craig S. Wright, author of the Bitcoin Whitepaper, to discuss the beginnings of Bitcoin and the benefits of gambling with Bitcoin in micropayments.
Who is it?
Becky Liggero, Lead Gaming Reporter at CoinGeek
Dr Craig S. Wright, Chief Scientist of nChain
What is being said?
Discussing his background in auditing and finance, Wright began: “One of the things I was doing at BDO was developing computer-aided audit technique software (CAATs) and a part of what I was doing with BDO overlaps with the concept of Bitcoin. I wanted to have a real-time auditing solution that would be secure and I was looking at hashing audit records for clients so that any changes couldn’t be hidden or altered.
“Even though I was in Australia, we had a lot of American clients who had to do filings under the Sarbanes–Oxley Act. What we had been creating was a set of audit techniques which would hash each of the legitables and keep them on a real-time basis, allowing the audit staff to view things and see where the changes were, or look at any alterations.”
He added: “Unfortunately, not everyone liked what I was doing in the firm. Some people really loved it and some of the partners thought I’d be taking away jobs from automating things. I was trying to explain it gives them more time to do real audit work which is not looking through paper but advising the company how to set up their controls better.”
Why should I watch it?
To learn about how the payments and gambling industries intertwine, and how Bitcoin can be used in regulatory audits.
Where can I see more?
Source: CoinGeek YouTube Channel