Tracing the motive behind Google’s Bitcoin ban

Cryptocurrency has been one of the most controversial concepts of all time. While some consider it highly, some consider it a source of criminality. Blockchain market research reports say that despite the high transaction fees, unstable value and vulnerability to fraud of blockchain-based products, the technology continues to thrive in the zone of financials.

Not only this, the quick-paced progress in the field and the increasing number of captivated users has led this industry to develop a stronghold. So much that Jack Dorsey, the CEO of Twitter, claimed that BTC has the potential to become the world’s only future currency. He was also seeking to include more bitcoin-supporting features in his self-owned payment service called Square.

However, the search engine giant, Google, recently announced a ban on all advertisements that featured bitcoin or any other cryptocurrencies upsetting a high number of financial institutions.

Why the finance industry calls this unfair

The decision of the ban has been effective since March and is also applicable to sites where Google sells ad spaces. Facebook and Bing have joined in to support. The ban has also been implemented in their internet space. Apparently, this controls the negative influence that their users may acquire from the ads. Why should this claim be falsified by proponents of Blockchain and Cryptocurrency?

There have been instances where decision-makers associated with Google and Facebook have endorsed cryptocurrency. So, their claim to have banned crypto-specific ads to eliminate internet-fraud and criminality is deemed invalid. Moreover, they continue to place promotions that feature acceptably unethical concepts of gambling and others.

Technology market research reports claim that initial bans by Facebook were unsuccessful. Scammers began to circumvent it. They continued to send out ads by abbreviating or modifying the terms. For instance, cryptocurrency became c-currency and bitcoin became bitc0in. Considering the methods that fraudulent companies can use to trick the customers, clamping down these specific ads seems like a positive move.

Then why do advocates of cryptocurrency feel otherwise?

Speculations from digital banking experts

The nature of the ban is seen as unfair because it targets a potentially high-profitable industry. Since the ad-hunters have themselves been supportive of blockchain in the past, the ban is seen as a hoax to pave an unhindered path for themselves to the future of this technology.

Although the decision-makers have themselves passed no comments, there has been a rumor that there continues to be on-going work on this technology within these companies.

Digital banking experts say that their community would have been more appreciative if the ban came with a more targeted approach. Market research reports are evidence that scammers have other entry points, so targeting one particular stream, that is looked upon to shape the future is discriminating.

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