Microsoft + Github = a world of change for cryptocurrencies
There have been reports over the weekend that Microsoft paid $7.5 billion in an acquisition to take over the company. “We recognize the community responsibility we take on with this agreement and will do our best work to empower every developer to build, innovate and solve the world’s most pressing challenge,” said Microsoft’s chief executive Satya Nadella.
Microsoft used to run a rival service called Codeplex, but shut it down last year because of Github’s explosive success. Github had become the “de facto place for open source sharing.”
Based in San Francisco with more than 28 million developers working on Github and 85 million code repositories, Github is the leader in connecting S.T.E.M. developers internationally.
The collaboration between many source codes has been a catalyst for the exponential growth of cryptocurrency and blockchain technology.
Currently, Github offers transparency to all who contribute to the generation of open source coding. Transparency is encouraged with the use of “commit,” which logs the status of specific code recording all changes and naming contributors.
Github’s commitment to transparency has attracted digital currency and blockchain developers. The open source hub has unique value to the blockchain community by providing code for creating digital currency exchanges and blockchain ledgers. Notably, the chief cryptocurrency Bitcoin, has open source code available on Github.
The Bill Gates effect, on both sides
Bill Gates’ commentary on cryptocurrency creates a conflict of interest with this new Github acquisition. In recent interviews, Bill Gates has made strong statements concerning the new financial system disrupting the banking industry.
“Right now cryptocurrencies are used for buying fentanyl and other drugs, so it is a rare technology that has caused deaths in a fairly direct way,” Gates said.
Most recently in May 2018, Gates communicated blunt criticism about the growth of Bitcoin. During a chat with Becky Quick of CNBC’s “Squawk Box.” He talked about betting against the crypto originator.
“I’d short it if there was an easy way to do it,” he said.
“As an asset class, you’re not producing anything and so you shouldn’t expect it to go up,” said Gates. “Bitcoin and ICOs, I believe completely [they’re some] of the crazier, speculative things.”
What does this all mean for the cryptocurrency community?
With all of the code for Bitcoin published on Microsoft’s Github, could the computer science conglomerate be gearing up to create their own digital currency? Or, does the strategic tech venture capitalist already have something else stewing?
In October 2017, the Bill and Melinda Gates Foundation released a new open source FinTech software which was ironically published on Github. Mojaloop, built on Ripple’s the Interledger Protocol (ILP), offers a way for traditional financial institutions to utilize mobile network operators to “reduce the cost of developing inclusive payments platforms.”
Gate’s criticism of digital currency stems from users remaining anonymous as the technology may encourage money-laundering practices. Questions still exist as to what his motive is for spreading F.U.D. before this acquisition.
With the purchase of GitHub, he now has an untapped resource for developers who specialize in digital currency at his disposal.
Mojoloop may very well be the prelude to MicroCoin.
