Despite being so popular and widely accepted by users, still, bitcoins can’t make a room in the heart of big tech giants like Apple, Google, and Facebook.
According to Forbes, Google, and Facebook’s cash machine, the ad market will face strict regulators in the U.S. and Europe, once the coronavirus havoc is over.
Apple also couldn’t remain intact from the market slowdown. Apple’s sales are sliding down year by year because of better inexpensive alternatives now available as well as upgrades are not appealing to the customers.
As a result, these behemoths are not eyeing on new consumer areas to increase their income streams. Apple entered into banking products sector by launching its first credit card in collaboration with Goldman Sachs last year.
Now, Google is now likely to launch a smart debit card. Famous tech news portal Techcrunch has leaked imageries of upcoming Google smart debit card design.
While Facebook is not going into centralized currencies, it is working on its decentralized currency project- Libra. Facebook may think of displacing bitcoin with its own cryptocurrency.
Why Apple, Google or Facebook need to kill Bitcoin
Forbes.Com noted that “In Silicon Valley, centralization is king.”
It makes more sense than whether it’s Facebook’s Mark Zuckerberg, Apple’s Tim Cook, or Google’s Sundar Pichai are appreciated for their control over the markets.
Similarly, whatever they will bring into the market will also be as centralized as the currencies they are going to replace.
Bitcoin has proved that a decentralized, digital currency doesn’t need any government, any federal agency, rather than a secure technology behind it.
Forbes added, “Bitcoin doesn’t need advertising, neither centralized organization to perform in the market. And you don’t need to purchase a new bitcoin model every year nor it sells your data.”
Bitcoin pointed out the need for a decentralized, user-controlled alternative to the current system is still not being accepted.
However, there are people like Jack Dorsey (Twitter CEO) who understand the upcoming financial revolution with technological innovation.
Time will tell whether bitcoin will survive or killed by the supremacy of big tech behemoths.
John is working as a professional news editor at GetIgnite. He is accustomed to finding daily reports. Therefore, this keen working and addiction towards his work, it helps him to find good news.