Cryptocurrency is well on its way to legitimacy. More people are using it than ever before — so much so that some big names in tech are starting to gain interest. It may just be a matter of time before one of the world’s tech giants releases its own cryptocurrency.
Tech companies like Facebook and Google contributed more than $2 trillion to the U.S. economy in 2018. If one of these giants were to branch into crypto, it would be huge for the industry. The question remains — which ones are most likely to do so?
Facebook (NASDAQ: FB) is one of the few tech giants to be upfront about their interest in cryptocurrency. In 2019, after years of rumors, they announced the creation of Libra, a new digital currency. Since its unveiling, though, Facebook hasn’t said much about Libra, including when it’s supposed to launch.
A company the size of Facebook definitely has the funding and power to make this happen. After months of political pressure, though, Libra’s outcome is a little more uncertain. Still, Facebook seems like one of the most likely titans of tech to dip their toes into crypto.
Crypto users have criticized Amazon’s (NASDAQ: AMZN) lack of cryptocurrency support for years. As the world’s largest retailer, it would make sense for Amazon to, at the very least, allow users to pay in crypto. Recent signs may point to the e-commerce giant going a step further.
Amazon recently launched a blockchain management service, meaning it has the ability to develop a cryptocurrency. It’s also bought domain names like AmazonCryptocurrency, but these could also be little more than trying to maintain control over their brand. Only time will tell if Amazon will finally get into crypto.
Another possible contender is Apple, (NASDAQ: AAPL) another one of tech’s “Big Five.” Apple already has experience with digital currency with features like Apple Pay and their own credit card. With governments like Russia and Venezuela taking an interest in crypto, this would give Apple the incentive to follow suit.
Jennifer Bailey, vice president of Apple Pay, said the company thinks cryptocurrency has potential in an interview last year. While they don’t seem to be pursuing it right now, crypto could be in the cards for Apple in the future.
Yet another member of the Big Five, Google (NASDAQ: GOOG, GOOGL) is looking into blockchain after years of shying away from it. Google Cloud started a partnership with Theta Labs, a blockchain company, earlier this year. That doesn’t mean Google’s about to launch a new cryptocurrency, but it’s one step closer.
Most interestingly, Google Cloud is validating transactions on Theta’s network. The blockchain experience they gain from this partnership could help them create their own cryptocurrency. If nothing else, this shows Google is now open to the idea of working with blockchain technologies.
Samsung isn’t as massive as these other four companies, but it’s still a considerable presence in tech. They’ve also remained quiet about blockchain and crypto, but an anonymous source reports that Samsung is working on a blockchain of their own. The same source says they may create their own cryptocurrency after they complete this blockchain.
The newest Samsung Galaxy phones include a crypto wallet, so the idea of a Samsung cryptocurrency isn’t that far-fetched. It’s still uncertain if the anonymous source is right, but their claims seem to hold some water.
Crypto Is Gaining More Widespread Support
Whether it’s companies or celebrities, you see stories of people talking about crypto more and more. With all of this new interest comes more legitimacy, establishing cryptocurrency as a more widely accepted concept. If any of these companies release their own crypto, it could make this trend skyrocket.
Nothing is certain right now, but there seem to be some promising signs on the horizon. The future of crypto looks bright.
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