Googlecoin? A Google Cryptocurrency May Be Coming
With all the different cryptocurrencies in play, what’s one more? It would likely end up buried under the mass of other possible coins to invest in out there, unless it had some kind of special feature, perhaps like name recognition. Name recognition like, oh, Google. Such a concept is one to take notice of, and explains marvelously why Google was reportedly in contact with the founder of Ethereum in a bid to possibly get said founder involved in a Google cryptocurrency.
Ethereum’s founder, Vitalik Buterin, actually shared a screenshot of an email sent to him by Google’s Elizabeth Garcia, which seemed to offer Buterin a job. Buterin then offered the notion up as an online poll, with 59 percent of over 2,000 respondents telling Buterin not to quit his current day job.
An alternative explanation was advanced, however, that Google may not be interested in cryptocurrency so much as it may be interested in its underlying elements, specifically blockchain. A Google rep mentioned to Business Insider back last March that the company was “…exploring potential use of blockchain,” but anything else was too premature to discuss.
Given there have been some stirrings of a cryptocurrency offering from Facebook, however, it may be more than just simple blockchain envy afoot here. Facebook’s user base of around two billion and the honor of creating the first genuinely mainstream cryptocurrency could be too great a call to pass up.
While certainly Google would have use for blockchain technology, it might well be considering such an offering itself. After all, it already has Google Shopping, as well as YouTube, so everything from paying for advertising to paying for YouTube Red or YouTube TV service is on the table. Potentially, Google might well even offer discounts for items purchased through Google Shopping stores if paid in the hypothetical Googlecoin.
Granted, that’s just speculation. It’s not out of line, though, especially if Facebook’s plans are holding true. A Googlecoin might be a useful tool for Google going forward, especially if it functions as the start of a larger blockchain ambition. Only time will tell how it all turns out, but a Googlecoin may be closer to reality than we think.