Google wanted to issue its currency
At one time, Google was going to issue its own currency and call it Google Bucks (Guglobax), said Eric Schmidt , speaking yesterday at the World Mobile Congress in Barcelona.
According to him, the idea was to create a P2P system for mutual settlements. However, Google’s lawyers have found that this concept is contrary to legislation in some areas, Google’s president said when answering public questions.
If the currency allowed for P2P payments, then it could assume the possibility of anonymous use, beyond the control of the authorities and financial institutions. This is subject to restrictions on anti-money laundering and terrorist financing legislation. For example, the Bitcoin payment system does not yet cause concern to the authorities only because of its small scale. If such a giant as Google entered the game, it would be a completely different matter.
According to him, the idea was to create a P2P system for mutual settlements. However, Google’s lawyers have found that this concept is contrary to legislation in some areas, Google’s president said when answering public questions.
If the currency allowed for P2P payments, then it could assume the possibility of anonymous use, beyond the control of the authorities and financial institutions. This is subject to restrictions on anti-money laundering and terrorist financing legislation. For example, the Bitcoin payment system does not yet cause concern to the authorities only because of its small scale. If such a giant as Google entered the game, it would be a completely different matter.
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Source: https://habr.com/ru/post/139109/
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