Google Once Considered Issuing Digital Currency
February 29th, 2012Via: IT World:
Google once considered issuing its own currency, to be called Google Bucks, company Chairman Eric Schmidt said on stage in Barcelona at the Mobile World Congress Tuesday.
At the end of his keynote speech, Schmidt hit on a wide array of topics in response to audience questions. “We’ve had various proposals to have our own currency we were going to call Google Bucks,” Schmidt said.
The idea was to implement a “peer-to-peer money” system. However, Google discovered that the concept is illegal in most areas, he said. Governments are typically wary of the potential for money laundering with such proposals. “Ultimately we decided we didn’t want to get into that because of these issues,” Schmidt said.
Related: Bitcoin
