Topic: [10-09-2021] Google to Help Digital Asset Platform Bakkt Introduce Crypto (Read 54 times)

And Google will benefit from expanded reach in to your private lives and access to your digital data.

Any crypto exchange, service, or provider, partnering with Google should be a massive red flag to steer well clear of that particular service. Google are primary a data harvesting company, and that is how they make all their money. There is absolutely zero chance that Google will not use such a partnership to gain access to your data, link your crypto wallets/transactions/purchases to your real identity, and then monetize that data in any way they can, including selling it to third parties, advertisers, governments, and anyone else who will pay for it.

I honestly wouldn't be surprised if we see Google move in to the blockchain analytics game in the future. It has proven pretty lucrative for Coinbase, with multiple multi-million dollar contracts coming from a variety of government agencies and other third parties. Just think how much extra data Google have on you which they could sell to the same third parties.

Unfortunately, this is limited to those that are "residing in the United States".
^{- If only we could've used our "Google Play balance for contactless payments", then none of these partnerships/collaborations would've mattered [with the help of crypto platforms that sell gift cards].}

Does anybody know how much fee/percentage they'd be charging for the conversion part?

Bakkt. Now there's a name I haven't heard in -- years (strangely, quite literally). Remember back when they were all the rage and supposed to open the floodgates and release the Kraken of institutional investors? And then when they finally dragged themselves over the finish line, it was a weak whimper of orders that trickled through.

So yeah, forgive me if I don't sit up palpitating about them exposing "millions of consumers" to Bitcoin.

Google has been flipflopping on crypto for quite a while now.

I don't think that people should be particularly intrigued by an institutional collaboration like this.

They are inevitably going to expand in whatever is profitable so it's not anything special. What the crypto community actually needs is real grassroots adoption and innovation on a decentralized manner.

Google to Help Digital Asset Platform Bakkt Introduce Crypto to Millions of Consumers



Google Collaborates With Bakkt to Expand Consumer Access to Cryptocurrencies

Intercontinental Exchange’s digital asset platform, Bakkt, announced Friday that it has partnered with Google “to introduce digital assets to millions of consumers.” By forming a partnership with Google, Bakkt said:


Launched in 2018 by Intercontinental Exchange Inc., the parent company of the New York Stock Exchange (NYSE), Bakkt enables institutions and consumers to buy, sell, store and spend digital assets, including cryptocurrencies. Bakkt explained that “users will be able to add their virtual Bakkt Visa Debit Card into Google Pay to purchase everyday goods and services online, in-store, or wherever Google Pay is accepted.” Cryptocurrencies, such as bitcoin will be converted to fiat currency for these payments to occur, the company clarified. Several other cryptocurrency platforms have added Google Pay, including Bitpay and the Nasdaq-listed crypto exchange Coinbase. The former added Google Pay for U.S. cardholders to spend cryptocurrencies in August while the latter enabled Coinbase Card users to pay via Apple Pay and Google Pay in June.

Bakkt & Google Cloud

In addition, Bakkt said that it has selected Google Cloud as a preferred cloud provider. The company will market its solutions powered by Google Cloud to leading retailers and merchants in the U.S. Bakkt also plans to leverage Google Cloud’s tools to build new analytics along with artificial intelligence (AI), machine learning (ML), and geolocation functionality on its platform.