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Google explores Bitcoin payment potential

Posting in Finance
 

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Bitcoin is either going to take the world by storm or crash as a novelty, but evidence has surfaced that Google is considering taking the virtual currency seriously.

In a series of emails sent between a marketing manager named Jarar Malik from Pakistan, Google+ leader Vic Gundotra and Sridhar Ramaswamy, the tech giant's senior VP of advertising and commerce said:

"We are working in the payments team to figure out how to incorporate Bitcoin into our plans."

The emails were posted on Reddit, where examination seems to show that Google is looking at ways to incorporate the virtual currency in to Google Wallet and potentially other payment services. However, speaking to Forbes, a Google spokesman downplayed the emails, saying "we have no current plans regarding Bitcoin."

Considering Google Ventures has invested in Bitcoin-based startup OpenCoin and the popularity of the virtual currency, even consideration makes sense.

If Google does chose to accept Bitcoin, it will give the currency validation currently lacking in the business world -- despite making more than a few wallet holders millionaires in the Bitcoin boom -- and is likely to increase its value.

 

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Via: Reddit

Image credit: Flickr

— By on January 24, 2014, 5:19 AM PST

Charlie Osborne

Contributing Editor

Charlie Osborne is a freelance journalist and photographer based in London. In addition to SmartPlanet, she also writes for business technology website ZDNet and consumer technology site CNET. She holds a degree in medical anthropology from the University of Kent. Follow her on Twitter. Disclosure