After the coins or tokens in the cryptocurrency, it is the turn of the fractions to get attraction from those who have been promoting the digital currencies. One among them is Ken Shishido, a co-founder of the Tokyo Bitcoin Cash Meetup. He was discussing the new idea of promoting BCH adoption during the recently held Satoshi’s Vision Conference in the country. The fresh idea is also generating a lot of interest among the crypto community if reports are to be believed.
Fraction of BCH Cash
The co-founder of the meet indicated branding of a new BCH by terming smaller fractions as BCH ‘cash’ rather than ‘Bits”. During the conference in Japan, he made a presentation on how to adopt the new concept in the country. Shishido is a renowned person in the cryptocurrency market, and he was joined by other members of the Meetup to discuss other ways of increasing the acceptance of new idea widely.
The knowledge of the co-founder of the Meetup is immense that could be seen from the way he has hosted more than 170 Meetups for the digital currency markets in the last few years. He has also been involved in traveling around the globe to spread the importance of promoting the virtual currencies and pointed out his background within the bitcoin industry in the country. He has estimated that Japan is one of the biggest populations of users of cryptocurrency among the global community by pointing out a rough estimate of two million users in the country.
Changing Smaller Fractions Name
At the end of the conference discussion, Shishido pointed out that one of the objectives is to change the name of the smaller fractions of bitcoin cash to ‘cash’ from ‘bits.’ As part of his efforts, he has also submitted a BUIP request to amend the bitcoin terminology to cash as the normal term for 100 ‘Satoshi’. This is translated into 1/1,000,000, i.e., one one-millionth, of a bitcoin cash, news.bitcoin.com reported.
In a request to BUIP, the co-founder of the Meetup explained that it was necessary for global adoption to differentiate the new concept from bitcoin core so that confusion could be avoided. He was quoted as saying “The “cash” denomination has been discussed and proposed by many people before. Authors of this BUIP take no credit for inventing the term — As BCH grows in price versus fiat currencies, it’s important to give users the ability to quickly and accurately calculate prices for transactions, savings, and other economic activities.”
Until now, the latest proposal generated a favorable response from the crypto community. Shishido has also been seeking the businesses assistance to look at the idea. This was also demonstrated when a bitcoin cash-centric mobile platform, Unit Wallet, unveiled its new 2.0 version recently. The platform added fresh features such as the cash address format.
Aside from that, the new Unit Wallet has integrated the cash denomination concept of Shishido and BCH’s smaller fractions in the user interface. Based on the response, there is every possibility that the concept could be extended to other virtual currencies too.