in a google cloud blog post google’s plans for joining the blockchain .
using a chain-link oracle smart contract
google is apparently now an on-chain data provider which is curious seeing as google is a centralized system the goal of blockchain is for a decentralized system in which the users have control .
why is google interested in starting down this road ?
what are they gaining ?
does google have a cryptocurrency ?
if you are a country where do you want to keep your money inside of your country right well it’s the same for companies starbucks does this with their starbucks card and now google is looking at crypto as a way to keep their money and their customers within their ecosystem .
6 main reasons for why google would want to create their own digital currency
1- reward systems cryptocurrency allows for the use of accurate and efficient reward systems whether for companies to be paid per click to pay for search enhancements to reward startups gaining new customers or for shares on social media .
2- utility tokens utility tokens are issued to either fund the development of a cryptocurrency or to be traded within the platform this would be a great marketing and analytics tool and one of the best ways to qualify leads .
3- as an in-game currency for google play .
4- as a way to fund his startups community projects or charity work with google’s deep pockets they could raise public capital with an ico or an ieo unlimited by geographic location currency exchange rates or geopolitical concerns .
5- as a payment provider processing payments is a difficulty for all e-commerce companies between credit cards bank deposits paypal etc they are all expensive and you still have to process certain things like refunds by hand if google is handling the payment and settlement layers on their blockchain it could significantly reduce the costs for many of the ecom businesses on google
6- cutting out the middleman with google as a web host operating domains on a blockchain it could mean no more hosting fees no more domain losses and overall easier cheaper and superior hosting and website development regardless of google as a centralized .
entity their mission statement reads as follows to organize the world’s information and make it universally accessible and useful safe to say they’re one of the most successful companies to do just that they are sharing ideas with global accessibility in an organized fashion by introducing their own cryptocurrency they will be even further ahead on their mission you