Microsoft Uses Bitcoin To Build A Decentralized Internet
Head of Bitcoin Mining Council, Michael Saylor, recently shared an article that depicts how Microsoft is backing a project for anyone to use bitcoin and shield their identity.
Michael Saylor Tweet. Source: Twitter
Microsoft is supporting an ION project planning to create decentralized identifiers (DIDs). Each person’s online activities would form anchor points for these identifiers. This invention would protect each person’s online activities and personal data from any individual or institution that they didn’t give access permission.
Hence, they would no longer be susceptible to data leakages, security breaches, government surveillance, or online tech giants from downloading and using their profiles without their permission. Since the objective of bitcoin is ensuring that monetary power becomes decentralized, ion’s goal is to decentralize online identities.
Ion is using the bitcoin blockchain to create and secure these DIDs. Microsoft’s white paper about the project reveals that part of its objectives is to help each individual store their digital footprints with a secured cloud space.
Hence, they won’t grant several apps permission and unknowingly permit these apps to share their data. The project is still in development through the bitcoin blockchain.
Survey Shows That Salvadorans Are Skeptical About Bitcoin
Reuters report that Disruptiva (a leading research institute in el Salvador) has polled Salvadorans about the authorities’ bitcoin legal tender acceptance. The survey revealed that about 21% of the 1,244 respondents commended their president’s initiative.
The survey conducted in the first four days of this month shows that 47% of the respondents have no idea about digital currency. 66% of them aren’t ready to start using it for financial transactions.
54% of them were unsure that adopting bitcoin as a legal tender is a top priority for the government. However, 25% of them gave partial thumbs up for the idea. When these respondents were asked whether they would like to receive their earnings in bitcoin, 66% of them declined, saying no. But 17% of them replied in the affirmative.
33% of the responders believed that president Bukele had selfish motives in adopting bitcoin as a legal payment.
Wozniack Is A Bitcoin Advocate
While participating in “talent land digital 2021” (a tech and innovation virtual event in Latin America), Apple co-founder (Steve Wozniak) opined that bitcoin is a “miracle of technology, a unique mathematical model and the only digital gold.”
However, Steve affirmed that he has no bitcoin investment. The tech billionaire also supported Jack Dorsey’s opinion that bitcoin would soon be the only digital currency available to everyone.
Steve further said he agreed with the popular opinion that bitcoin is better than gold. According to him, “there is limited gold quantity, and you have to keep searching for it. But bitcoin is a highly fascinating mathematical miracle. I am convinced it will remain with us permanently even though I don’t have any bitcoin investment.”
Steve’s words echoed Mexico’s third richest man (Ricardo Salinas Pliego)’s words, who said that there is no doubt that bitcoin is the new gold.
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