2022 is going to be an important year for crypto, I'd say it is the year we will call "the mass adoption year". It's not like everything and everyone around the world will start accepting Bitcoin and deal with cryptocurrency as of 2022, but there's going to be some economical important players entering the space.
The president of El Salvador has already pointed out towards the potential of two other countries making Bitcoin legal tender and from what I've read on twitter today, it seems the man is going to meet Erdogan soon. I know, the president of Turkey has declared war to Bitcoin a few years ago, but there were some other officials calling it a fad that are now "in the game".
Google is tiptoeing into Bitcoin and cryptocurrencies as the company’s payments division struggles to gain significant market share in the payments industry and touts adding custody capabilities of such assets to its digital cards, according to a report by Bloomberg.
“Crypto is something we pay a lot of attention to,” said Bill Ready, Google’s president of commerce, per the report. “As user demand and merchant demand evolves, we’ll evolve with it.”
source
According to the article from where the two quotes from above have been excerpted, it appears that the companies making possible for Google to be able to allow its customers to hold crypto onto its wallets and spend fiat by using that crypto are going to be Coinbase and BitPay.
Google is going to use some sort of "digital cards" for that matter and it's yet unclear when everything will come to fruition. I'm not excited about that though, because Binance... Yep, Binance and crypto.com are already doing it and quite fine I'd say.
Both are using VISA' services and from my experience they're almost flawless. Why am I not excited about Google entering crypto? It's because I am perfectly aware of its background in "tracking records". They're the big wide spider web controlling a lot of data on the internet. Binance is also a centralized entity, but at least it's more crypto oriented and not that compliant as Google is.
It is clear to me that these giants won't miss the opportunity of profiting from crypto, but I'm not excited at all about centralized powers in crypto. I'd rather give a shot to a startup making crypto payments possible than google. What do you think?
Thanks for attention,
Adrian
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I am using crypto backed visa cards and they work nice. True decentralization is coming but I would be happy to use Binance or any other centralize entity's service offering. I remember Binance CEO noting they will be working on a true crypto card. Google and others will try to exploit the userbase that they have. One good thing that is coming out of this development is the evidence of the growing popularity of crypto payments and projects. Things are looking good.
I am using the Binance card and it works well.
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Centralization is and will continue to be frowned upon and like you put it these big firms will not miss an opportunity. The saddest thing being when they come after the small retail investor they get it all and do it technically ruthlessly
True
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Everyone is trying to get a piece of the crypto pie, well it’s going to drive competition in the crypto market space, let’s watch out for more improvements
I think Google will probably add support for a virtual crypto card to its Google Pay app in the future. I could see Apple doing the same thing with Apple pay. It won't be any time soon though because of regulators.
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