2016’s was nice to bitcoin, to say the least. The digital asset did better than every sovereign fiat currency on earth and outperformed most commodities as well. The cryptocurrency now has a whopping $16 billion dollar market capitalization with one coin valued at one thousand dollars across the globe. Furthermore, the cryptocurrency is possibly set to surpass one troy ounce of gold in the near future.
Microsoft Office Adds Bitcoin Features
Microsoft Office is one of the world’s most popular word processing software. The latest Office 365 2017 will be able to format and calculate bitcoin denominations. Martin Butler, an executive at Microsoft announced the features and the cryptocurrency community was quite pleased. The move which will be executed on all new updates and future releases of the software will bring more broad mainstream adoption to the bitcoin network. In fact, accountants can now use it for bitcoin expenses and tax write-offs.
Hyperledger Adds More Members During Year End
The open source blockchain-based project led by the Linux Foundation now has a significant membership of over 100 members. This past week the project added eight more members to the R&D effort and a prosperous year. The platform has been adopted by many legacy financial firms and corporations looking to utilize the blockchain for better efficiency. Brian Behlendorf Hyperledger’s executive director explains, "2016 was a year of exploration, R&D, and prototyping, we’re excited for 2017 to be the year we start to see case studies of the technology in production environments."
The Dubai Future Accelerator Initiates Blockchain Immigration Program
Dubai has been researching blockchain technology quite heavily this past year. The country has committed lots of money to the effort and created the Dubai Future Accelerator. The organization is dedicated to researching and developing blockchain and financial tech solutions. Just recently Dubai's immigration agency started exploring the use cases of a blockchain that will eliminate illegal aliens within the country. The blockchain concept is expected to curb illegal trespass by 50% the organizations declared.
New Imgur-Like Bitcoin Site Supload Launches
A new image service called Supload hosts images online, and people can get small amounts of bitcoin for participating. The free-to-use site shares ad revenue with the community, and the image hosting site has been gaining popularity. Users can upload memes, graphics, and gifs to the platform to get links that can be shared on Reddit, Twitter, and Facebook. So far there a few thousand users since the website has started and the platform is another venture paying content creators for the traffic in bitcoin.
Venezuela Gravitates Toward Bitcoin
The South American country Venezuela has been suffering from significant economic chaos. This year alone the country’s legal tender the bolivar has inflated by over 700% and continues to erode in value. Lately many citizens within the region have been hearing about the economic benefits of bitcoin. There has been mining activity within the region and people finding ways to convert their fiat into the digital currency. Over the past week, Google searches for bitcoin have been over 400%. It's safe to say there's been demand for bitcoin within Venezuela’s borders.
Decentralized Marketplace Openbazaar Accepts Altcoins
Openbazaar has released its 1.1.10 version to the public and has announced integration with ShapeShift. This will allow users on Openbazaar to use a multitude of 35 altcoins including Ether, Dash, Monero and more. OpenBazaar’s founder Brian Hoffman explains, “enabling users to pay for OpenBazaar purchases with bitcoin and dozens of other cryptocurrencies was always something we wanted to do, and ShapeShift enabled us to do that quickly and easily.” The decentralized marketplace Openbazaar has been continuously gaining popularity with its platform this past year.
2017 is upon us and last year was magnificent in the land of bitcoin. It's sure to be an exciting ride this year with the bitcoins eighth year anniversary approaching this Jan 9th. Coinmama will be sure to keep our readers informed of the latest headline within the bitcoin and cryptocurrency space.
Stay tuned next week as Coinmama reviews the hottest most trending movements within the cryptocurrency circuit.