Crypto Goes Mainstream: Will Facebook And Google Support Cryptocurrency Adoption?
Just imagine, to pay for ads on Facebook, you can choose any cryptocurrency instead of the US dollar, and using Google Play service, you can pay for purchases with Bitcoins. If earlier it could seem like something empyreal, today it is quite an expected decision. Will Google and Facebook change their crypto policies?
Is PayPal first, then Google and Facebook?
The cryptocurrency is rapidly acquiring new supporters, including large companies, funds, institutional and retail investors. It is obvious that the global economy is moving at full speed towards digitalization, and its transformation is only a matter of time. The leading players in the financial market have already jumped in, as evidenced by the multi-billion dollar investments in Bitcoin in the context of 2020.
Top corporations are unlikely to observe this process from the outside and will soon join the support of the cryptocurrency. Jason Janowitz, the founder of BlockWork Groups, is convinced of this. He believes that large companies such as Google and Facebook may significantly change their corporate policies towards crypto shortly.
The question of the need to introduce cryptocurrency into the ecosystem of large companies is hanging in the air. Of course, PayPal gave a powerful impetus to this process: the news of the launch of the support service for Bitcoin, Ethereum, Ethereum, Bitcoin Cash, and Litecoin for US citizens has already been dubbed by analysts as a turning point for the crypto industry as a whole. Given that the payments giant plans to scale this feature to all users, the outlook is more than optimistic.
Cryptocurrency use will become ordinary
Analysts are convinced that PayPal’s support for the cryptocurrency will be a powerful signal for massive crypto adoption by businesses and individuals. That could radically affect the value of cryptocurrency as a means of payment. Especially, the PayPal initiative should be appreciated by millennials who are increasingly interested in digital currencies.
A lot of the large companies have already become convinced that cryptocurrency is behind the future of the payment system. While government agencies are deciding how to settle the issue of regulating the freedom-loving crypto, corporations are developing strategies to integrate cryptocurrency into their ecosystems. An example is the same Facebook, which has been working on the launch of its own cryptocurrency Libra since 2018.