by Abdullah Othman S AI Nomair
Google is known for its numerous services to people around the world. Besides, it has gained immense popularity for its expansion through partnerships. Today’s hot cake is about another evolution of Google, which is nonetheless good news for Cloud Service consumers and Cryptocurrency users. Google started accepting Cryptocurrency in all the regions around the globe.
During Google’s Cloud Next conference, the partnership between Google and Coinbase was disclosed to the audiences and locals. Moreover, the application related to data will be serviced to Google by Amazon Web Services (AWS). Jim Migdal, vice president of business development of Coinbase, stated that Coinbase will charge a percentage of the total usage similarly to other transactions.
The ultimate strategy to roll out this service is profoundly rational. First, it will be in the market for a few customers and look for the optimum performance. After several rollouts, it will be available to all the customers of Google Cloud Service.
Regarding revenue, the parent company of Google, Alphabet, will obtain 9% of the total revenue. In quarter 2 of the following year, it already generated $6.2 billion. Nevertheless, the competitors’ incremental gains were around three to four times greater. Microsoft gained $19.2 billion, and Amazon Web Services earned more than $22 billion, making it stand at the top.
Though Microsoft and Amazon Web Services obtained revenue enormously, Google Cloud service expects a drastic growth in revenue since it is the only one from the horizon accepting Cryptocurrency as payment. Eventually, it can be a significant remarkable side in terms of earning income and expansion. Ten of the total Cryptocurrency companies shook hands with Google as partners: Bitcoin, Bitcoin Cash, USD coin, Ether, Shiba Inu, DAI, Tether USD, ApeCoin, and BCH. Furthermore, Google is expecting more partners in the near future.
Google Cloud expanded its payment system by partnering with Cryptocurrency companies. It is also noteworthy that Cryptocurrency is strictly prohibited in the region of South Africa. As a result, it may cause a distraction to numerous telecommunication networks like Safaricom and MTN. In the list of distractions, e-commerce companies also exist. So, companies other than MTN have not demonstrated their keenness enough for this cryptocurrency-related expansion. Furthermore, the majority of governmental personages of Africa barely approved the law regarding the existence or trading of Cryptocurrency.
However, from the other sides of the globe, Google is expecting substantial revenue from this Cryptocurrency exchange trade.
