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Maybe Google kills Bitcoin after all




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The bitcoin and cryptocurrency industry was startled earlier this year by reports that search giant Google has achieved quantum supremacy, something that could potentially break bitcoin encryption (but probably not)

However, bitcoin price went up this year, largely due to the interest in bitcoin and encryption from the world's largest technology companies-with others, including companies like iPhone maker Apple and online retailer Amazon, branching out into traditional financial services.

Now, Google, in partnership with US banking giant Citigroup, has said it plans to launch its own "smart check" bank accounts through Google Pay:pushing bitcoin developers to improve user experience and face adoption or redundancy.

Google's planned bank account, codenamed Cache, which should allow users to add Google's analytic tools to traditional banking products, is due to be launched next year alongside the planned rival of bitcoin on Facebook.

"Our approach will be to partner deeply with banks and the financial system," said Google executive Caesar Sengupta. Wall street journal newspaper, which first related the story.

"It may be a bit longer, but it's more sustainable. If we can help more people do more things digitally online, it's good for the Internet and good for us."

Google does not plan to sell the financial data of its checking account users, according to Sengupta. At this time, Google does not share data from its Google Pay service, which had 11.1 million US users last year with advertisers.

The decision follows Google's launch of Apple's credit card with Goldman Sachs last summer, Uber's bank account credit application for its drivers and Amazon's plans to introduce personal accounts for its customers.

Meanwhile, Bitcoin and other major cryptocurrencies are struggling to attract new users and retail acceptance, with price speculation still bitcoin's biggest factor of interest.

Bitcoin evangelicals point to the need for a decentralized, user-controlled alternative to the fiat money system as the reason for bitcoin's eventual success, but the world's technology giants are moving fast to deploy many of bitcoin's most valued features. and encryption.

The Twitter microblogging platform, led by Square payment company chief executive Jack Dorsey, is a Silicon Valley exception for its bitcoin support.

And public opinion is with technology companies. Last month, Apple, Google and Amazon were considered the most valuable brands in the world, according to Interbrand Annual Survey.

Despite public concerns about data privacy, digital security, and the power of technology giants, users have not abandoned their services – Google's superior digital money service could be a bigger threat to bitcoin than its quantum supremacy.

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The bitcoin and cryptocurrency industry was startled earlier this year by Google's search reports, which reached quantum supremacy, something that could potentially break bitcoin encryption (but probably won't).

Meanwhile, the price of bitcoin has risen this year, largely due to the interest in bitcoin and encryption from the world's largest technology companies – with other companies, including companies like iPhone maker Apple and online retailer Amazon, branching out. in traditional financial services.

Now Google, in partnership with US banking giant Citigroup, has said it plans to launch its own "smart check" bank accounts through Google Pay, pushing bitcoin developers to improve user experience and adoption, or face redundancy.

Google's planned bank account, codenamed Cache, which should allow users to add Google's analytic tools to traditional banking products, is due to be launched next year alongside the planned rival of bitcoin on Facebook.

"Our approach will be to partner deeply with banks and the financial system," Caesar Sengupta, Google's executive, told the Wall Street Journal, which first told the story.

"It may be a bit longer, but it's more sustainable. If we can help more people do more things digitally online, it's good for the Internet and good for us."

Google does not plan to sell the financial data of its checking account users, according to Sengupta. At this time, Google does not share data from its Google Pay service, which had 11.1 million US users last year with advertisers.

The decision follows Google's launch of Apple's credit card with Goldman Sachs last summer, Uber's bank account credit application for its drivers and Amazon's plans to introduce personal accounts for its customers.

Meanwhile, Bitcoin and other major cryptocurrencies have been struggling to attract new users and retail acceptance, with price speculation still bitcoin's biggest factor of interest.

Bitcoin evangelicals point to the need for a decentralized, user-controlled alternative to the fiat money system as the reason for bitcoin's eventual success, but the world's technology giants are moving fast to deploy many of bitcoin's most valued features. and encryption.

Twitter's microblogging platform, led by chief executive of Square payments company Jack Dorsey, is an exception in Silicon Valley for its bitcoin support.

And public opinion is with technology companies. Last month, Apple, Google and Amazon were considered the most valuable brands in the world, according to Interbrand's annual survey.

Despite public concerns about data privacy, digital security, and the power of technology giants, users have not abandoned their services – Google's superior digital money service could be a bigger threat to bitcoin than its quantum supremacy.


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