Google’s plan to ban cryptocurrency ads will be implemented this month (yes, it’s been announced for quite some time now, but the search giant is going to deploy the ban this month). However, there are a lot of questions about why the company wants to do so with the crypto ads.
Google’s advertising ban saw all cryptocurrencies with the same aye
According to a recent report, Google is following the footsteps of social tech giants like Facebook and Twitter to ban cryptocurrency advertisements. The ban might be as a result of phishing scams and frauds that have emerged in the world of cryptos so far.
The primary factor in the decision is considered to be an extensive demand of ICOs as the fundraising schemes for new firms and the bad press that has arisen. But, commentators are questioning if the company is going overboard in its role as a neutral origin of information or search engine.
Speaking to the Independent, Ed Cooper, the head of mobile digital banking startup Revolt said:
“It’s unfortunate that legal cryptocurrency businesses present useful services to investors will be caught in the mix. This ban is a blanket ban.”
A fintech solicitor, Gareth Malna, who works at UK law firm argues that the ban refute Google’s advantage of being the universal mighty search engine. Mr. Malna’s words read:
“ The decision by Google to act as a quasi-regulator in this subject is a hindrance to progress given its vast enterprise power,”Gareth Malna further added.
Google’s act on banning crypto is immoral
Almost every tech company was forming strategies to run their cryptocurrencies and blockchains. For this reason, some people are reviewing the output of the ban. Besides, they are also looking at the possibilities of self-serving intentions behind the crypto ban.
Speaking to the Independent, the CEO of Blackmore Group, an investment firm based in Manchester, Philip Nunn said Facebook and Google run ads from other devious sites despite the insistence from subscribers.
He went ahead and said:
“I consider the ban is taking place so that the platforms could invent their cryptocurrency in the coming future. So, suspending crypto ads gives them the power to operate there on their terms.”
Last month, Google allegedly approached Ethereum founder with a goal to give them an helping hand on some of their upcoming projects (now that’s a clear sign that Google itself is working on projects related to crypto and blockchain).
David Marcus, head of Facebook Messenger claimed he’s responsible for heading up an explanatory blockchain group for the firm. One unanimous cryptocurrency expert wrote an article in the Independent citing the ban as potentially immoral and ill-thought-out.
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