By CCN Markets: So, you may have heard that Google Cloud Services now support Ethereum smart contracts. Not only that, but Google is expending its resources learning how the smart contract platform works and teaching people how to integrate with Google’s services. Blockchain Becomes Mainstream, Mainstream Businesses Need Easy Access It’s no secret that none of the tech giants want to be left out of the blockchain race, but Google has been mostly silent on the issue. The company makes many billions selling advertisements for its dominant search engine. Google explains that it took some effort to understand how Ethereum
The son of Google (GOOGL) CEO Sundar Pichai is apparently quite aware of cryptocurrency. According to a recent Business Insider article, while speaking at the New York Times DealBook conference last week, Pichai said his 11-year-old son was using the family’s home PC to mine Ethereum (ETH). “Last week I was at dinner with my son, and […]
With Google’s ban on cryptocurrency advertising set to formally come into full effect this month, many representatives of the cryptocurrency and investment industries have spoken out against the company’s move.
Google Ban Expected to Come Into Effect This Month
Google announced that it would ban cryptocurrency advertising on its platform in March, following numerous anecdotal reports of declining ad performance on the company’s platforms from companies promoting initial coin offerings (ICOs). The move followed the implementation of similar advertising restrictions on Facebook.
Google’s decision to ban all bitcoin and cryptocurrency adverts on its platforms isn’t going down well with cryptocurrency and blockchain technology proponents — with some believing that there is more to the decision than meets the eye.
In March 2018, Google issued a statement announcing that cryptocurrency-focused promotional content would no longer be allowed on all of its platforms. According to the statement, the ban covers adverts for ICOs, exchange platforms, wallet services, etc.
For stakeholders like Phillip Nunn — CEO of Blackmore Group, a cryptocurrency investment firm — the ban has a tinge of hypocrisy about it. Speaking to The Independent, Nunn said:
A lawsuit has been filed against Google in Russia after the company announced restrictions on cryptocurrency-related ads. Entrepreneur Vladimir Orehov demands a 2 billion ruble compensation from the Russian Google entity ООО «Гугл». He claims the ban will deprive him of opportunities to invest in crypto projects and find investors to fund his own business initiatives.