It is not a secret that Google is one of the giants in the tech industry. The search engine features help users find whatever they are searching for with maximum efficiency. Now, Google is moving a step forward, adopting cryptocurrencies.
As we know, besides being the biggest and most popular search engine, Google offers some internet related services and products, among which are payment platforms, cloud computing, and online advertising technologies. Not only that, but the company is preparing to overtake the crypto world.
Since Google is definitely one of the most popular websites and search engines in the world, it really does have the potential to push cryptocurrencies and blockchain technologies.
Where exactly is Google in the crypto world?
Although Google has shown some interest in the crypto and blockchain technologies, it hasn’t transitioned that much in the industry, like Amazon for example. Actually, not so long ago, Google was skeptical about cryptocurrencies and even banned all ads related to different crypto and blockchain products and services, including crypto companies, initial coin offerings, crypto wallets, exchanges, etc.
Today, some bans are removed, but there are still some restrictions regarding crypto products ads in the search engine.
What Google did was to integrate cryptocurrency payment in Google Pay. Users can add a version of their Coinbase or BitPay Card to their Google Pay wallet, so it is easy to pay using crypto in shops and institutions that accept such payments.
In 2019 Coinbase announced its card, in the form of a debit card which allows users to spend cryptocurrencies directly from their Coinbase balance. Also, Coinbase offers a virtual card that can now be integrated into Google Pay.
Google Pay and Crypto adoption
As we already said, Google Pay has integrated Coinbase Card and BitPay card which allows users to make cryptocurrency payments in 14 countries, including France, Spain and the UK. It is expected that Google Pay’s crypto payments will be expanded to other countries soon.
Another Google’s innovation in the crypto world is Google Cloud Platform. It offers the infrastructure for blockchain companies such as Theta Labs and Blockchain.com.
Theta Labs links Google Cloud Platform, allowing users to deploy and operate nodes.
Blockchain.com is a lending crypto software company that uses Google Cloud Platform to run its databases for its Blockchain Explorer.
Although Google has shown some interest in the crypto world, it hasn’t used its full technological potential.
Google started with burning crypto ads on the platform and even removed some crypto-related apps from the Play Store, but as we already said it has made some steps in the direction of crypto adoption. Since Google is definitely a technological giant in the IT world, there is a lot it can do for the cryptocurrency adoption.
Cryptocurrency advertising
At the beginning of 2018, Google banned all bitcoin and blockchain related ads, because of the increase of scams and shady schemes. Anyway, after the growth of crypto and the decrease of scams, there was an update in Google’s policy, in 2021. According to this, crypto services and products such as wallets and exchanges can now be advertised, but only if the advertiser is a licensed provider. Furthermore, the products and services must comply with the standards of the industry and the local legal requirements.
Blockchain and Search Engine Algorithm
Another way for Google to promote crypto adoption is to integrate block search engine algorithms into the search engine.
Since Google’s search engine algorithms rank web pages according to various factors, the integration of blockchain technology can achieve more trust and legitimacy among users.
Its own blockchain or cryptocurrency
It is absolutely possible for Google to even go a step further and launch its own cryptocurrency or blockchain platform.
While Google is a giant in the tech industry, it is not so hard to believe that it can achieve the same in the cryptocurrency world. So far, it has tried to keep distance from this field, we can now see the company making investments in the crypto sector, and we believe there is much more to expect.
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