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2025-02-18 23:37:00

Google to let users access their Bitcoin wallets via Google accounts

On Feb. 18, 2025, during Hong Kong Bitcoin Tech Carnival, Google web3 specialist Kyle Song revealed that Google is working to simplify the use of Bitcoin for Google users. According to Song, Google is “exploring ways to lower entry barriers so Web2 users can easily use Bitcoin.” Song said the company has been working on the integration of Bitcoin into its ecosystem for about a year since Bitcoin ETFs were approved by the SEC. Table of Contents Details revealed by Song Is this a huge news? The Bitcoin ETFs’ role Details revealed by Song Judging from what Song said, Google is preparing a really simple in-use solution that will seamlessly integrate cryptocurrencies into the Google ecosystem used by billions of people across the world. He said Bitcoin wallets will be embedded into the web2 interface so that users will be able to log into their BTC wallets using Google accounts. As for crypto payments, Google aims to make them as simple and intuitive as already existing web2 payment solutions. Another focus of the Google team is ensuring the security of their solution. They strive “to address trust issues between on-chain and off-chain systems.” To maintain stable, trustless functioning, Google is going to deploy Zero-Knowledge Proofs or similar encryption technologies. Is this a huge news? Although Song’s speech wasn’t a full-fledged announcement but rather a teaser, the project itself, if it plays out well, can propel Bitcoin’s adoption like nothing before did. Google is used by billions of users, many of whom have Google accounts. The way people perceive Bitcoin and crypto may change drastically if, one day, all of these people find out they have a seamless service within their Google account that allows them to purchase, exchange, or spend Bitcoin. If Bitcoin functionality is integrated with Google Pay, crypto may see an immense circulation boom. As people discover they have an easy and secure way to use crypto legally, they may start to explore new opportunities associated with this new class of assets. However, it’s important to keep in mind that sometimes ambitious plans set by top-tier companies fail, and it’s early to judge whether we are going to see this collaboration between Google and Bitcoin materialize or not. In 2020, two tech giants, Facebook and Telegram, had to withdraw their plans to deploy cryptocurrencies integrated into their services when it seemed that the projects were about to take off. Both companies survived and moved on. Eventually, Telegram started to support third-party crypto wallets in the form of mini-apps and bots. The wallets integrated into the messenger saw substantial traction, however, the service has its limitations and concerns while lacking serious promotion from Telegram itself. Will Google succeed in becoming the first high-profile company to implement crypto in its services seamlessly? The chances are higher as 2025 is way different than 2020, a year when Facebook and Telegram were about to launch their ambitious projects. Facebook Libra and Telegram Gram token projects didn’t come to fruition partly because they were set to launch in 2020 when the political and legislative environment was much more unfriendly towards crypto than now. More than that, crypto ETFs were not a thing in those days, making it even harder to bring crypto into web2 service. According to Gemini Exchange co-founder Cameron Winklevoss, the Facebook Libra killing was a politically motivated act . The Biden era was marked with Operation Choke Point 2.0, which denied banking services to various companies working with cryptocurrency, and the shutdown of Facebook Libra perfectly set the tone for the following years under Biden’s leadership and the Gensler-led SEC. You might also like: Gary Gensler’s political testament. Digesting the SEC chairman’s exit interview If Google makes it, crypto adoption may open a new chapter. Ironically, it was Gensler who made it possible when he approved Bitcoin ETFs. The Bitcoin ETFs’ role Bitcoin ETF approval is widely viewed as a bridge connecting the crypto market and traditional investors. Bitcoin ETFs align with a clear legal framework while allowing its holders to benefit from the Bitcoin market value. ETFs helped big corporations to enter the crypto sector without having to deal with regulatory uncertainty. The fact that BlackRock’s Bitcoin ETF IBIT became the fastest-growing asset in history proves that it’s approval was a transformational move. You might also like: BlackRock’s $26b Bitcoin ETF crowned fastest growing fund

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