The digital world has BitCoin; it's come close, it turns out, to having SchmidtCoin.

Google, Eric Schmidt revealed in a speech today, once considered getting into the digital currency game. The company has seen \"various proposals,\" its chairman told a crowd at the Mobile World Congress in Barcelona, to develop a currency that would serve as tender for peer-to-peer economic exchanges taking place across Google's platforms.

The chimerical currency would have been called Google Bucks, IT World reports. (I would have preferred SchmidtCoin; I guess this is why I am not the head of Google.)

So why, ultimately, didn't Google go the way of Facebook and its Facebook Credits? The same reason it doesn't do a lot of things: legal concerns. \"Governments are typically wary of the potential for money laundering with such proposals,\" IT World notes. As Schmidt put it: \"We decided we didn't want to get into that because of these issues.\"

Image: Viajar24h/Flickr.

","freeContentEncoded","textContent","published","strategy","curl-ready","locked","deletedAt","isSyncedFromOwnBlog","original","duplicatesCount",0,"duplicateVersion","originalArticleId","errorsCount","appearance","color","backgroundColor","shortSummary","Google nearly launched its own digital currency called Google Bucks, but legal concerns about money laundering stopped the project.","summary","Google's chairman, Eric Schmidt, revealed that the company once considered developing its own digital currency, tentatively named Google Bucks. This currency would have facilitated peer-to-peer economic exchanges across Google's platforms. However, the project was abandoned due to significant legal concerns, particularly governments' wariness of potential money laundering associated with such digital currencies.","bullets",[363,364,365,366],"persons",[362],"places",[361],"words",147,"sentiment","subject","tech","meta",{"_323":324,"_325":326,"_327":328},"eventId","796e9c1a326c9362626ab28b0bdcb682022252ecc3de6306eb006bf7cf47042a","nostrRootEvent","event",{"_24":258,"_288":311,"_136":94,"_184":312,"_292":293,"_219":313,"_295":314},"authorNPub","markdown","The digital world has [BitCoin](http://bitcoin.org/); it's come close, it turns out, to having SchmidtCoin.\n\nGoogle, [Eric Schmidt revealed in a speech today](http://www.itworld.com/networking/254124/google-once-considered-issuing-currency), once considered getting into the digital currency game. The company has seen \"various proposals,\" its chairman told a crowd at the Mobile World Congress in Barcelona, to develop a currency that would serve as tender for peer-to-peer economic exchanges taking place across Google's platforms.\n\nThe chimerical currency would have been called Google Bucks, _IT World_ [reports](http://www.itworld.com/networking/254124/google-once-considered-issuing-currency). (I would have preferred SchmidtCoin; I guess this is why I am not the head of Google.)\n\nSo why, ultimately, didn't Google go the way of Facebook and its [Facebook Credits](http://developers.facebook.com/docs/credits/)? The same reason it doesn't do a lot of things: legal concerns. \"Governments are typically wary of the potential for money laundering with such proposals,\" _IT World_ notes. As Schmidt put it: \"We decided we didn't want to get into that because of these issues.\"\n\nImage: [Viajar24h](http://www.flickr.com/photos/soschilds/344173629/)/Flickr.","freeMarkdown","kind1EventId","kind30023EventId","ab323acfc78f8b83aa83c03f61de2faa932ab1b4e7337d19d3d762dc7e9f34b6","kind30023",{"_24":268,"_288":289,"_136":290,"_184":291,"_292":293,"_219":294,"_295":296},"publishedToNostr","htmlContentKind30023","

The digital world has BitCoin; it's come close, it turns out, to having SchmidtCoin.

The chimerical currency would have been called Google Bucks, IT World reports. (I would have preferred SchmidtCoin; I guess this is why I am not the head of Google.)

Image: Viajar24h/Flickr.

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