Google’s determination to ban all bitcoin and cryptocurrency adverts on its platforms isn’t taking place properly with cryptocurrency and blockchain know-how proponents — with some believing that there’s extra to the choice than meets the attention.
In March 2018, Google issued a assertion saying that cryptocurrency-focused promotional content material would now not be allowed on all of its platforms. In response to the assertion, the ban covers adverts for ICOs, alternate platforms, pockets companies, and many others.
For stakeholders like Phillip Nunn — CEO of Blackmore Group, a cryptocurrency funding agency — the ban has a tinge of hypocrisy about it. Talking to The Unbiased, Nunn stated:
I perceive that Fb and Google are below loads of stress to manage what their customers are studying, however they’re nonetheless promoting playing web sites and different unethical practices.
Clearing the Enjoying Subject
Nunn additionally believes that there could also be a extra underhanded reasoning behind the ban.
Identical to Fb, Google can be reportedly researching blockchain-based options for its enterprise, and the present ban could also be an try to clear the enjoying area in preparation for its entry into the trade — at the very least, that what Nunn appears to assume. He acknowledged:
I believe the ban has been carried out to slot in with potential plans to introduce their very own cryptocurrency to the market within the close to future and subsequently eradicating different crypto adverts permits them to do it on their very own phrases.
Not Completely Unjustified
The largely unregulated nature of the cryptocurrency trade gives alternatives for fraudsters seeking to revenue with elaborate scams.
The U.S. Securities and Alternate Fee has been attempting to sanitize the ICO area and even efficiently indicted a number of initiatives’ founders with fraud. With this in thoughts, banning such adverts might sound justified, at the very least for the sake of defending buyers.