Google exploring Blockchain could bring Crypto in Google Pay!
Being part of the crypto space its needed to keep an eye on the news and stay updated with updates to know, what's happening around. Last year in 2021 we have seen more good news in which many big institutions entered bitcoin and crypto and this also resulted in significant price appreciation and market cap spike. These days bitcoin prices are not doing well and prices are going down.
Facebook had announced Libra long back but this project did not go the way it was expected and later on things got almost shattered because partners left the project. Now with rebranding as Meta, the company is trying to have a leading metaverse and this is another segment that is backed by the blockchain and even some projects are already doing well in metaverse and SAND is a well-known name. After Facebook, Twitter is also working on blockchain and crypto and there have been some news articles before so we can say things are in process and sooner or later we might be able to get the things fully developed.
Now Google is left which has not yet confirmed if the company is going to be moving into crypto however from the Indian region side, there seems to be good news. India has been doing well in crypto despite having no regulation in place. Exchnages are getting quite a big number of new users and trading volume is also growing significantly. The country has also gone 2 unicorn exchange which is a big achievement and this has been possible in a few years only where as getting this title take decades of time.
Google might be gearing up to embrace blockchain technology. The company has reportedly set up a new unit that will look into the viability of blockchain technology across verticals. From what is known so far, Google wants to make headway in distributed computing as well as data storage technologies with this move.
As per one of the news articles, it seems that Google has started to explore blockchain technology and they are planning to add crypto on Google Pay. In India, Google plays a UPI-based payment platform that facilitates instant money transfer and they have also expanded the services for other merchant services. As of now, Google Pay provides a bunch of payment services for free on one platform and I am sure the company is tracking the crypto growth in the country. While leading exchanges like Binance & Coinbase etc, already have their business presence in India so Google seems to have its presence in this area as well.
Google Pay was launched by following the growth of PayTM and phonepe which means the company doesn't want to miss out on the opportunity to be part of the revolution, and UPI has certainly done it in India and now Google pay has a nice market share. Although as of now there is no official update but if this news turns out to be true then we will have the crypto option added with Google pay and this will make crypto trading easy.
Google is a leader in technology and if they join the space then it will provide best-in-class services to users along with creating more competition for existing players. I believe that in this space competition will play an important role which will push exchanges to prove the next level of crypto products and services at a reasonable cost.
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