Microsoft’s Blockchain Obsession Provides Big Boost To Bitcoin
The talk of blockchain has been growing that it's hard to ignore what Microsoft thinks about it. The software giant, however, came out with their thoughts about the cryptocurrency trading platform. According to CCN, Microsoft is at least recognizing that bitcoin and blockchain cannot be ignored. They even are looking at the digital currency as something of a 'potential moneymaker.'
The company came out with an announcement that they will focus on building a decentralized identity (DID) network on top of exploring the Bitcoin blockchain. The blockchain was hailed as 'oldest' in the system, as well as one of the most trusted. The network is planned to follow the guidelines set by the Decentralized Identity Foundation.
The tech giant was also positive that they could make improvements with the help of blockchain. According to reports, Microsoft is positive about the 'potential' of blockchain, where they said every person would benefit from having a 'decentralized, digital identity' they could identify with. They also said that the identity should 'seamlessly' integrate into the everyday lives of people.
While Microsoft is sharing its obsession with bitcoin, that doesn't mean that it's good for everyone. Post Gazette reported on how people with an appetite for risk-taking and beyond have taken to investing in any bitcoin that they could get their 'hands' on. That included altcoins, most of which have questionable rise and falls based on a number of sources behind it.
The views of Aaron Lammer and Jay Caspian Kang were discussed during their "CoinTalk" podcast, where Kang delivered an explanation for the sudden surge in non-Bitcoin cryptocurrencies. While bitcoin is doing a mini-run of its own, the reason behind altcoin's movement is that people are 'bored' and they are gambling with their investments in an altcoin.
They went further beyond discussing bitcoin and delved into the blockchain. Blockchain is still a relatively new technology; Stephen Williams, author of "Blockchain: The Next Everything", shared his own insights and said that blockchain is stuck between letting people learn more about it and enticing them with big returns, even if they don't understand a thing about it.
Microsoft is taking a gamble, despite their huge belief that blockchain and bitcoin will become big. People have a good appetite for risk and that might be what drove them towards bitcoin and blockchain. Learning a little history wouldn't hurt, however, considering some people made it big when bitcoin went off on a historic run, while others lost big when it finally cooled down.