Saturday, September 30

With an eye on cryptocurrencies, Google hires ex-PayPal and considers launching “Crypto card”

in conversation with the Bloomberg, Bill Ready, director of commerce and payments at Google, confirmed the hiring of Arnold Goldberg, ex-PayPal. stating that “This move is part of a strategy for Google to join a wider range of financial services, including cryptocurrencies”.

Among the highlighted points is the lack of interest in working with cryptocurrencies in services such as Google Play and its wallet. However, that seems to be changing as the company needs to catch up.

In addition to Google, other big names in the industry are also on the same path. As an example we can mention Apple, whose CEO, Tim Cook, has already admitted to having cryptocurrencies such as Bitcoin in his portfolio, it seems to be just a matter of time before his company also starts working with the currency.

Google is eyeing cryptocurrencies

Being able to be used globally, a cryptocurrency like Bitcoin, for example, faces fewer obstacles such as time and amount limits, as well as it can be used by anyone, without the need to have a bank account.

With all these advantages, it’s even strange to think that Google took so long to notice its potential, perhaps out of disdain. Despite this, after 13 years, Bitcoin has already proven itself and is increasingly popular, as noted by Bill Ready.

“Cryptocurrencies are something we pay a lot of attention to. As user demand and merchant demand evolve, we will evolve with it.”

In addition, the Bloomberg story also cites partnerships between Google and companies such as Coinbase and BitPay so that their users can store cryptocurrencies on digital cards. However, this is not currently in use.

Finally, Bill also mentions that “Google is looking to make more of these partnerships, although the company is not yet accepting cryptocurrencies for transactions”. That is, the least we can expect is the possibility of making payments with cryptocurrencies through Google services.

Giants are focused on cryptocurrencies

In addition to Elon Musk, the richest person in the world, other big names in the industry have already shown their interest in cryptocurrencies. As an example we have Tim Cook, CEO of Apple.

Despite claiming to have cryptocurrencies in its wallet, Apple is still on par with Google, reluctant to integrate cryptocurrency into its services.

With this, due to the growing demand for the use of cryptocurrencies, we can expect companies to become increasingly competitive in this field. In other words, those who do not update themselves may lose a good share of the market.