What Should Google Do with Bitcoin?

In what could be a sign of Google warming up to the world of Bitcoin, they have become officially responsive

In what could be a sign of Google warming up to the world of Bitcoin, they have become officially responsive to requests for support and integration. Everyone must admit that nothing has been launched or even promised, but the development is encouraging: Google is publicly taking suggestions on how they can work with Bitcoin. Google assigned Jarar Malik, one of Bitcoin’s leading champions and the one who first reached out to Google on this issue, to moderate the forum.

The most popular suggestions include:

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  • Allowing Bitcoin as payment for Google products such as apps, advertising (both payments and payouts), games and others
  • Integrating Bitcoin into Google Wallet
  • Adding Bitcoin to Google Finance
  • Supporting a blockchain explorer

Some of the more interesting suggestions:

  • Allowing for tipping of YouTube content
  • Get Google engineers on board in working with the code to make it better for everyone
  • A Google credit card

The Google Wallet point warrants some attention. To date, Google Wallet serves 2 main functions: a means of securely storing payment information for transactions all over the web, and more significantly a means of payment to other Wallet holders.

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The obvious question everyone should have been asking during the Bitcoin craze is: If Google is so good at everything, why don’t they just create their own digital currency? It’ll likely put the others to rest, as it has done with many other inventions. The truth is they’ve supported P2P digital currency with their Wallet- but of the legal tender variety, similar to what the Royal Canadian Mint has been attempting to develop already for 2 years. Many will argue that this is the true future of digital P2P currency.

With digital legal tender, you combine the advantages of stability and ease-of-use, while staunch Bitcoin supporters will argue that legal tender will forever be susceptible to irresponsible dilution by governments (and, of course, may not provide the anonymity necessary to buy/sell….)

One potential long term scenario: Google Wallet, with or without first toying with Bitcoin, eventually expands its Wallet functionality to do whatever Bitcoin does, and then some.

There are many possibilities, which will ultimately be decided by Google’s perception on the future of money and which crowds are the most worthwhile to service.

It is unknown at this point if or when other cryptocurrencies are under consideration- or if this will even be relevant in the long run.

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