There are 203 new words added to the Oxford English dictionary (OED) for the very first time which is an important step forward for the cryptocurrency revolution.
The Oxford English Dictionary first introduced the word “Bitcoin” back in 2014, long before it went mainstream and now in 2019, the OED has been updated again and includes the words “Cryptocurrencies” and “Satoshi.”
Cryptocurrencies are defined as informal, substitute currency operating without any central authority, and employing the cryptographic technique. Under its description, Bitcoin has been described as the earliest digital currency. According to OED, Satoshi is described as the smallest monetary unit in the Bitcoin digital payment system, which is equal to one hundred millionth of a bitcoin or 0.00000001 BTC.
The OED’s policy says:
“Our role is to monitor and record emerging vocabulary so that we can make new terms available to our dictionary users as soon as they start to gain traction.”
At PumaPay, we believe that cryptocurrencies will become mainstream and we take the inclusions of these words in the OED as a positive step in the right direction.