Related Articles
The financial world has seen a drastic change after cryptocurrencies entered in the market. Bitcoin is the most valuable and renowned Cryptocurrency. The financial market is becoming more interesting and dynamic with new payment methods, currencies and technological advancements being made in the sector. Facebook has recently launched its unified payment service.
There are many concerns that were raised by the experts about rapidly changing financial options. Major concerns were about centralization, data privacy and surveillance. Bitcoin poses minimal due to being a decentralized one, that's why it is the most valuable right now. Now Google is also ready to enter the financial market with personal finance and banking structure.
The world's largest technology giant is going to partner with several banks and credit unions for it's new project called "Cache". Technology companies are entering personal finance markets at an incredible pace after witnessing the rapid success of blockchain cryptocurrencies which are backed by technology.
Google has already partnered with
Citigroup Inc and the Stanford Federal Credit Union to create an ecosystem where banking, personal finance and technology goes hand in hand. Google currently manages and operates its own "Google Pay" wallet and payment transfer method. It's new banking and finance venture is expected to take off in early 2020.
In a related news, Google has achieved a breakthrough in Quantum Computing. That poses some serious threats to Bitcoin and other cryptocurrencies as the computer can mine 3 million bitcoins in just 2 seconds. With the current available technology the number was achievable in 121 years but Google's Quantum computer, if fully materialized can do it in just 2 seconds.
