What Google Tries, Binance Has Already Accomplished, But NO Thanks Anyway...
2022 is going to be an important year for crypto, I'd say it is the year we will call "the mass adoption year". It's not like everything and everyone around the world will start accepting Bitcoin and deal with cryptocurrency as of 2022, but there's going to be some economical important players entering the space.
The president of El Salvador has already pointed out towards the potential of two other countries making Bitcoin legal tender and from what I've read on twitter today, it seems the man is going to meet Erdogan soon. I know, the president of Turkey has declared war to Bitcoin a few years ago, but there were some other officials calling it a fad that are now "in the game".
Google is tiptoeing into Bitcoin and cryptocurrencies as the company’s payments division struggles to gain significant market share in the payments industry and touts adding custody capabilities of such assets to its digital cards, according to a report by Bloomberg.
“Crypto is something we pay a lot of attention to,” said Bill Ready, Google’s president of commerce, per the report. “As user demand and merchant demand evolves, we’ll evolve with it.” source
According to the article from where the two quotes from above have been excerpted, it appears that the companies making possible for Google to be able to allow its customers to hold crypto onto its wallets and spend fiat by using that crypto are going to be Coinbase and BitPay.
Google is going to use some sort of "digital cards" for that matter and it's yet unclear when everything will come to fruition. I'm not excited about that though, because Binance... Yep, Binance and crypto.com are already doing it and quite fine I'd say.
Both are using VISA' services and from my experience they're almost flawless. Why am I not excited about Google entering crypto? It's because I am perfectly aware of its background in "tracking records". They're the big wide spider web controlling a lot of data on the internet. Binance is also a centralized entity, but at least it's more crypto oriented and not that compliant as Google is.
It is clear to me that these giants won't miss the opportunity of profiting from crypto, but I'm not excited at all about centralized powers in crypto. I'd rather give a shot to a startup making crypto payments possible than google. What do you think?
Thanks for attention, Adrian
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