Google Bucks, Google’s own digital currency
will remain as it is, just an idea.
At Barcelona’s Mobile World Congress,
Google chairman Eric Schmidt admitted that the company considered
issuing its own “bucks” until they were hampered by regulatory
concerns.
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“We’ve had various proposals to have our
own currency we were going to call Google Bucks,” he said.
The aim was to enhance a P2P money platform
but the search giant realised that the idea of its P2P Google Bucks
could have undesirable legal implications.
“Ultimately we decided we didn’t want to
get into that because of these issues,” he said at the
Congress.
The plan was ditched as could fail to
respect currency and money laundering laws requirements.
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By GlobalData
