Yes, Google Once Considered Issuing Its Own Currency

google_coin.png

The digital world has BitCoin; it's come close, it turns out, to having SchmidtCoin. 

Google, Eric Schmidt revealed in a speech today, once considered getting into the digital currency game. The company has seen "various proposals," its chairman told a crowd at the Mobile World Congress in Barcelona, to develop a currency that would serve as tender for peer-to-peer economic exchanges taking place across Google's platforms. 

The chimerical currency would have been called Google Bucks, IT World reports. (I would have preferred SchmidtCoin; I guess this is why I am not the head of Google.) 

So why, ultimately, didn't Google go the way of Facebook and its Facebook Credits? The same reason it doesn't do a lot of things: legal concerns. "Governments are typically wary of the potential for money laundering with such proposals," IT World notes. As Schmidt put it: "We decided we didn't want to get into that because of these issues."


Image: Viajar24h/Flickr.

Presented by

Megan Garber is a staff writer at The Atlantic. She was formerly an assistant editor at the Nieman Journalism Lab, where she wrote about innovations in the media.

Riding Unicycles in a Cave

"If you fall down and break your leg, there's no way out."

Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register.

blog comments powered by Disqus

Video

Riding Unicycles in a Cave

"If you fall down and break your leg, there's no way out."

Video

Carrot: A Pitch-Perfect Satire of Tech

"It's not just a vegetable. It's what a vegetable should be."

Video

An Ingenious 360-Degree Time-Lapse

Watch the world become a cartoonishly small playground

Video

The Benefits of Living Alone on a Mountain

"You really have to love solitary time by yourself."

Video

The Rise of the Cat Tattoo

How a Brooklyn tattoo artist popularized the "cattoo"

More in Technology

Just In