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Recently, the Oxford English Dictionary announced via a blog post that it has added "Satoshi" and Cryptocurrency to its database of words.
The implication is that the next edition of the Oxford English Dictionary, which is one of the most widely used English dictionaries in the world, will have these two new words.
The OED in its entry describes Satoshi as, "satoshi, n. “The smallest monetary unit in the Bitcoin digital payment system, equal to one hundred millionth of a bitcoin.”
While the entry about Cryptocurrency simply described it as, "cryptocurrency, n. “Any of various digital payment systems operating independently of a central authority and employing cryptographic techniques to control and verify transactions in a unique unit of account; (also) the units of account of such a system, considered collectively.”
For those who are unfamiliar with the crypto movement and its ideologies, the actions of the editors at OED may appear normal and inconsequential. After all, it is customary for the erudite editors to add as many words as they deem fit each year.
However, crypto enthusiasts have reasons to jubilate because, being a national treasure, words only get listed in the OED when such words have been in use amongst a large number of English speakers for at least five or more years.
So, adding the words Satoshi and Cryptocurrency to one of the most trusted English dictionaries on the planet gives more legitimacy and global reckoning to the cryptocurrencies. Perhaps, more crypto jargons could find their way into the OED in the nearest future.
Not only that, years ago I was taught in my Cultural Anthropology class that the human language is the vehicle through which cultural elements are conveyed from one generation to the other.
Consequently, the introduction of the words Satoshi and Cryptocurrency to the OED will go a long way in infusing and introducing the culture of cryptocurrencies to the millions of English speakers across the globe. We have seen it happen before, it could possibly happen again:
In 2001, at the time when the world was enthralled by the potentials of the internet, the wold Google appeared for the first time in the English dictionary to mean using an online search engine named Google to find information.
A decade later, Google would go on to become not only the most widely used search engine in the world but also one of the most successful tech companies on the planet.
Google had a great potential to be a very disruptive and revolutionary technology at the time of its inclusion in the English dictionary. Similarly, cryptocurrencies also have disruptive tendencies to the global finance.
Therefore, adding it to the revered OED only suggests that we are closer to taking cryptocurrencies to the masses by the next decade than we have ever imagined.
Greetings @gandhibaba, as you say, although it may seem a bit of a badge to add that pair of words, we are facing a memorable moment, if you will, in the world of cryptocurrencies.
That apart from giving value (as a word say) to that pair for future generations, maybe some people to see the inclusion believe in this kind of world, since there are many people who see all this as a hacker movie or a world of fantasies, when in fact it is not.
Thank you for reading my comment, let's hope in a few years more people know about them and why not soon add more related words of this world to the dictionaries.
I do not say goodbye without wishing you a happy day, evening or night.✌️
You have reminded me a little of the Cultural Anthropology classes, in the part in which the professor said that the speed of adoption of new terms or Neologisms in the speech of the population is always faster than in the academic layer, but this makes sense because the vivacity of speech means that neologisms can appear or disappear at a high speed, so it is submitted to a consideration in which the variable "time" is part of the evaluation to include it or not formally.
Hahaha glad that you also took some Anthropology classes like I did years back at the university. Thanks for the lessons, for refreshing my memories. Cheers!
@gandhibaba, There is no surprise because Bitcoin and the whole Cryptocurrency Sphere brought a new Revolution for sure which is spreading the change for good. Stay blessed.
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Thanks for stopping by my good friend @chireerocks. I believe that more words will be added as we continue to progress. Cheers!
Welcome and that's true.
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They took too long. I see this sort of thing changing soon. That is, a more tech-centric and appreciation for innovative minds above that of the status quo. Those without degrees, might think that higher ed is about maintaining the norm, but actually, seeking a doctorate is about learning how to communicate with innovators.
Yes it really took too long than expected and even necessary. More tech words relating to blockchain will emerge in the days ahead.
These are deep words, really deep words. Thanks for sharing.