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RE: Will Tech Giants (Google, Facebook etc) Create Their Own Cryptocurrencies? ft Cedric Dahl

in #cryptocurrency7 years ago

Why would ANY centralized company (Amazon, Google, Facebook, etc) create a decentralized currency? What possible benefits would it have?

If they did do this, it'd be extremely/entirely premined anyway. Google has the resources to keep their coin's blockchain honest without the need for a peer to peer network.

Remember: Bitcoin was created as a trustless (you don't need to trust the other party), decentralized (there's no trust so there's no point of failure) currency.

A corporation's coin would be centralized and require trust.

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"A corporation's coin would be centralized and require trust."

Which is precisely why a significant portion of the crypto community will shun it, but I'm sure they will be plenty of Google shareholders and fans that would love the idea and would use a Googlecoin.