Google’s First Steps Into Cryptocurrency, Ignoring Years of Censorship

google lifts ban on advertisements and cryptocurrency

google lifts ban on advertisements and cryptocurrency

Spread the love

Google takes its first steps into cryptocurrency, establishing a section dedicated to a variety of financial services, blockchain and cryptocurrency, diving into metaverse.

Google is establishing a section dedicated to the development of a variety of financial services, including blockchain and cryptocurrency.

For a long time, Google has been interested in cryptocurrency services, and it has backed a few initiatives and enterprises. This time, the tech behemoth from the United States chose to take the first big step.

Google is establishing a section dedicated to the development of a variety of financial services, including blockchain and cryptocurrency.

Vice President of Engineering for Google’s Advertising Infrastructure and Payments Systems Shivakumar Venkataraman stated in an internal email to Bloomberg that Google is working on “blockchain and other next-gen distributed computing and data storage technologies.”

Venkataraman will be the head of Labs, which will be in charge of the company’s future virtual reality (VR) and augmented reality (AR) product development activities.

It’s Google’s fault!

The mainstream media has been perplexed by Google’s sudden move, especially since the corporation has not been a true participant in this few for a long time.

Arnold Goldberg will be a part of the tea ceremony. Arnold has vast experience working for big organizations including PayPal, LinkedIn, Box, eBay, and IBM, to name a few.

The former Chief Product Architect of PayPal will take over as head of Google’s payments division, as part of a larger company-wide push into financial services, including cryptocurrency.

According to Bill Ready, Google’s head of commerce, the tech giant has only partnered with a few cryptocurrency firms, including Coinbase, Gemini, and Bakkt processor BitPay, among others.

The goal of these collaborations, on the other hand, is to enable consumers to link their crypto debit card to Google Pay. The company has a clear long-term vision for crypto-related services, and the moment has arrived for those services to be officially launched.

Google had been hesitant to enter the crypto sector for a long time. All advertisements linked to Bitcoin and cryptocurrencies have been banned by the company. However, after three years, Google has suddenly become interested in blockchain and cryptocurrencies.

The prohibition was lifted in August 2021 by the tech giant. Official authority to operate advertising campaigns on Google and other Google platforms has been granted to companies who trade, purchase, sell, or promote Bitcoin or other cryptocurrencies.

Is 2022 Going To Be The Year Of The Tech Giants?

Google’s move was a little late, especially considering that its big competitors had already made tremendous progress. At the present, the game isn’t only about blockchain and bitcoin; competitors are also investigating NFTs and the metaverse.

As blockchain emerges as a natural extension to cloud-based services, it has long been on Google’s radar.

The metaverse realm will become increasingly relevant as cloud platforms become more common. Companies are attempting to incorporate features that will make their products more beneficial to the general public.

Take, for example, Facebook or, more lately, Meta. The abrupt announcement by the social networking behemoth to change its name to Meta highlights how the metaverse became one of the hottest buzzwords in the computer world last year.

NFTs and the metaverse had a banner year in 2021, thanks not only to the involvement of big entities like Meta, but also to breakthroughs in the field of virtual reality devices – a tool that allows people to visit the metaverse.

That, on the other hand, was the story of the year 2021.

Because global tech behemoths will now continue their grandiose storylines, 2022 appears more appealing. Every major technology business will develop their own metaverse platform in 2022, according to Business Insider.

Microsoft has also seized the lead with Mesh, a platform focused for corporations and online workers.

The metaverse allows people to share their experiences in both the physical and digital realms. The metaverse can assist people in meeting in a digital setting, making meetings more comfortable through the use of avatars, and facilitating global creative cooperation.

Shaw commented

It’s debatable if Google did extensive monitoring and cutting-edge planning prior to the public release.

Perhaps the corporation built its services behind closed doors. In any event, Google’s action intensifies the fight between tech behemoths.

Leave a Reply

Your email address will not be published.