Google has selected Coinbase to allow users to pay for cloud services using cryptocurrencies. In a recent report released by CNBC; they report that Google is also exploring the possibility to use Coinbase Prime in order to store and trade virtual currencies. This is just one step closer towards a larger adoption of digital assets around the world.
Google To Support Crypto Payments for Cloud Services
According to CNBC, Google is going to start accepting crypto payments for their cloud services solutions. The new payment option could be available starting early next year and it would be done using Coinbase, one of the largest crypto companies in the world.
During Google’s Cloud Next conference, the company informed this is also one of they ways to offer better services compared to other competitors. It is worth pointing out that Google will be the first company offering these services that will support crypto payments.
Another important thing that is worth taking into consideration is that Coinbase will also move its data-related applications to Google. As reported by CNBC, over the last few years, Coinbase dependent on Amazon Web Services cloud. Therefore, this is also a strategic move that Coinbase decided to do when it comes to the services that it offers to clients.
It is worth taking into consideration that Coinbase Commerce, the branch that handles payments at Coinbase, is supporting 10 different digital assets. These cryptocurrencies include Bitcoin (BTC), Bitcoin Cash (BCH), Dogecoin (DOGE), Ethereum (ETH), and Litecoin (LTC), among others.
Google to allow some customers to pay for cloud services with crypto early next year via Coinbase
— Blockworks (@Blockworks_) October 11, 2022
Another important thing that is worth taking into consideration is that Google is also allowing users to know the balance of any Ethereum (ETH) wallet. If a person wants today to check a specific wallet or transaction, they have to go through blockchain explorers. These are websites that query data from specific blockchains and share this information with users.
Now, things will be a little bit different. As soon as you type a specific address in Google, you will get all the information about it. This is one of the ways in which Google is offering crypto-related solutions to people from all over the world. Nevertheless, some people are worried about the privacy implications of using Google rather than a node to check information about transactions.
The best practices say that users should use Tor and more privacy-focused search engines rather than Google in order to query blockchain information. With this new service, Google accounts could be linked to specific wallet addresses, something that could harm users’ privacy.
As we can see, there is a clear interest from Google to start offering crypto-related services and solutions to users. However, there could be new and exciting features coming from this company in the coming months or years.
Over the last few days, the crypto market has been moving lower. For example, Bitcoin has fallen by 2.4% over the last 7 days and Ethereum followed losing 2.2% of its value during the same period of time. Binance Coin (BNB), instead, has lost 4.8% of its value in the last 7 days.