Craig Wright, a computer scientist who claims to be the inventor of Bitcoin, prevailed in a civil trial verdict Monday against the family of a deceased business partner that claimed it was owed half of a cryptocurrency fortune worth tens of billions of dollars.
A Florida jury found that Mr Wright did not owe half of 1.1 million Bitcoin to the family of David Kleiman. The jury did award $100 million in intellectual property rights to a joint venture between the two men, a fraction of what Kleiman's lawyers were asking for at trial.
“This was a tremendous victory for our side," said Andres Rivero, the lead lawyer representing Mr Wright.
David Kleiman died in April 2013. Led by his brother Ira Kleiman, his family has claimed David that he and Mr Wright were close friends and co-created Bitcoin through a partnership.
At the centre of the trial were 1.1 million Bitcoin, worth approximately $50 billion based on Monday’s prices. These were among the first Bitcoin to be created through mining and could only be owned by a person or entity involved with the digital currency from its beginning — such as Bitcoin's anonymous creator, Satoshi Nakamoto.
Now the cryptocurrency community will be looking to see if Mr Wright follows through on his promise to prove he is the owner of the Bitcoin. Doing so would lend credence to Mr Wright's claim, first made in 2016, that he is Nakamoto.
Jurors took a full week to deliberate, repeatedly asking questions of lawyers on both sides as well as the judge on how cryptocurrencies work as well as the business relationship between the two men. At one point the jurors signalled to the judge that they were deadlocked.
Bitcoin’s origins have always been a bit of a mystery, which is why this trial has drawn so much attention from outsiders. In October 2008, during the height of the financial crisis, a person or group of people going by the name “Satoshi Nakamoto” published a paper laying out a framework for a digital currency that would not be tied to any legal or sovereign authority.
Mining for the currency, which involves computers solving mathematical equations, began a few months later.
The name Nakamoto, roughly translated from Japanese to mean “at the centre of,” was never considered to be the real name of Bitcoin’s creator.
Mr Wright's claim that he is Nakamoto has been met with scepticism from a sizeable portion of the cryptocurrency community. Due to its structure, all transactions of Bitcoin are public and the 1.1 million Bitcoin in question have remained untouched since their creation.
Members of the Bitcoin community have regularly called for Mr Wright to move just a fraction of the coins into a separate account to prove ownership and show that he truly is as wealthy as he claims.
During the trial, both Mr Wright and other cryptocurrency experts testified under oath that he owns the Bitcoin in question.
Mr Wright’s lawyers have said repeatedly that David Kleiman and client were friends and collaborated on work together, but their partnership had nothing to do with Bitcoin’s creation or early operation.
Mr Wright has said he plans to donate much of the Bitcoin fortune to charity if he were to win at trial. In an interview, Mr Rivero reconfirmed Mr Wright’s plans to donate much of his Bitcoin fortune.
Killing of Qassem Suleimani
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Company%C2%A0profile
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Expo details
Expo 2020 Dubai will be the first World Expo to be held in the Middle East, Africa and South Asia
The world fair will run for six months from October 20, 2020 to April 10, 2021.
It is expected to attract 25 million visits
Some 70 per cent visitors are projected to come from outside the UAE, the largest proportion of international visitors in the 167-year history of World Expos.
More than 30,000 volunteers are required for Expo 2020
The site covers a total of 4.38 sqkm, including a 2 sqkm gated area
It is located adjacent to Al Maktoum International Airport in Dubai South
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
RACECARD
4.30pm Jebel Jais – Maiden (PA) Dh60,000 (Turf) 1,000m
5pm: Jabel Faya – Maiden (PA) Dh60,000 (T) 1,000m
5.30pm: Al Wathba Stallions Cup – Handicap (PA) Dh70,000 (T) 2,200m
6pm: The President’s Cup Prep – Conditions (PA) Dh100,000 (T) 2,200m
6.30pm: Abu Dhabi Equestrian Club – Prestige (PA) Dh125,000 (T) 1,600m
7pm: Al Ruwais – Group 3 (PA) Dh300,000 (T) 1,200m
7.30pm: Jebel Hafeet – Maiden (TB) Dh80,000 (T) 1,400m
Key figures in the life of the fort
Sheikh Dhiyab bin Isa (ruled 1761-1793) Built Qasr Al Hosn as a watchtower to guard over the only freshwater well on Abu Dhabi island.
Sheikh Shakhbut bin Dhiyab (ruled 1793-1816) Expanded the tower into a small fort and transferred his ruling place of residence from Liwa Oasis to the fort on the island.
Sheikh Tahnoon bin Shakhbut (ruled 1818-1833) Expanded Qasr Al Hosn further as Abu Dhabi grew from a small village of palm huts to a town of more than 5,000 inhabitants.
Sheikh Khalifa bin Shakhbut (ruled 1833-1845) Repaired and fortified the fort.
Sheikh Saeed bin Tahnoon (ruled 1845-1855) Turned Qasr Al Hosn into a strong two-storied structure.
Sheikh Zayed bin Khalifa (ruled 1855-1909) Expanded Qasr Al Hosn further to reflect the emirate's increasing prominence.
Sheikh Shakhbut bin Sultan (ruled 1928-1966) Renovated and enlarged Qasr Al Hosn, adding a decorative arch and two new villas.
Sheikh Zayed bin Sultan (ruled 1966-2004) Moved the royal residence to Al Manhal palace and kept his diwan at Qasr Al Hosn.
Sources: Jayanti Maitra, www.adach.ae
How to improve Arabic reading in early years
One 45-minute class per week in Standard Arabic is not sufficient
The goal should be for grade 1 and 2 students to become fluent readers
Subjects like technology, social studies, science can be taught in later grades
Grade 1 curricula should include oral instruction in Standard Arabic
First graders must regularly practice individual letters and combinations
Time should be slotted in class to read longer passages in early grades
Improve the appearance of textbooks
Revision of curriculum should be undertaken as per research findings
Conjugations of most common verb forms should be taught
Systematic learning of Standard Arabic grammar
Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
Killing of Qassem Suleimani
Mohammed bin Zayed Majlis
KILLING OF QASSEM SULEIMANI
Killing of Qassem Suleimani
Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
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Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
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Price: From Dh650,000
