Google is integrating cryptocurrency wallets from the Etherium network into its search engine results. How does this work?

October 13, 2022 by cryptobreak

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Etherium addresses are now integrated into Google’s search engine. This means that if you type a crypto address into the search box, its balance will appear directly on the first page of the search without having to click on any blockchain browser links. But there is no such feature for Bitcoin and other cryptocurrencies. This fact and some other points have caused a very unorthodox reaction from the blockchain community. We will tell you more about the situation.

It’s not the first time Google has integrated blockchain data into its own search engine in one way or another. Among the latest developments here is an idea from the first half of September, when the platform added a countdown to the transition of the Etherium network to the PoS consensus algorithm.

Blockchain with a countdown to the merger in the Etherium network to Google

In doing so, the developers agreed on both the huge potential of digital assets and the importance of updating such a global blockchain. Now, representatives of the company are continuing to work in this direction.

How Google supports cryptocurrencies

Han Hua, director of Alphabet Inc’s venture capital arm, posted a screenshot of the effort on his Twitter page. It looks like this.

The balance of the Etherium wallet is right on Google

Cointelegraph journalists also shared the news. However, they note that the function doesn’t work for all Etherium wallets yet, but for Bitcoin addresses it doesn’t work at all. We’ve also tested several Etherium addresses with different search engine settings – including VPN and English search language – but no results were achieved.

We weren’t able to get a corresponding output for the Etherium address

In any case, such a small detail increases the recognition of the crypto market in the eyes of the average user. In addition, Google has previously partnered with cryptocurrency exchange Coinbase to accept payments for its cloud services as early as next year. Accordingly, platform users will be able to pay for services using digital assets. That said, Coinbase’s role in the process is still inconclusive, as in theory the search giant could use the services of another company.

Google’s office

Marcus Thielen, chief investment officer of platform Matrixport, said that one should not be surprised by Google’s efforts in developing the Web3 sphere, as commercial banks and rival companies are also constantly working in this direction. Google’s efforts are welcome, but the true mass adoption of Web3 may come “when the iPhone can be used as a crypto-purse”. Here’s the expert’s rejoinder.

“If and when that happens, it’s as if the crypto industry will go from 100mph to 250mph in the blink of an eye.

There were also those who saw the news as negative. For example, a user under the nickname SadPanda.blockchain stated that Google will now allegedly sell “blockchain data”. Here’s his quote from Twitter.

Google will now sell our blockchain data to advertising companies so they can expand their reach through our cryptocurrencies!

Exactly how the user imagines this is unclear. Especially since all information about transactions, wallet balances and other details are already open to anyone via the blockchain explorer. In the case of Etherscan, it's Etherscan, but for Solana, you can use the standard browser or Solana Beach.

Solana Beach blockchain browser interface

So Google can’t get any hidden information about the cryptocurrency holders. The wallet balance in Etherium is public information that anyone is able to get for any cryptocurrency address.

😈 YOU CAN FIND MORE INTERESTING INFORMATION ON US AT YANDEX.ZEN!

Meanwhile, finance giants JPMorgan and Visa have partnered to make it easier to use their private blockchain solutions Liink and B2B Connect to facilitate cross-border payments. As a reminder, JPMorgan’s Liink is a network specifically designed for cross-border transfers and operates under a bank initiative called Onyx. Onyx provides a platform for institutions to exchange financial information and confirm transactions. Visa’s B2B Connect is a similar Liink network designed for institutional use that is now integrated with Onyx’s Confirm.

Confirm is an account information verification product that ensures that transactors provide genuine identities and correct information. Bank officials say Confirm is capable of verifying more than 2 billion bank accounts from 3,500 financial institutions. JPMorgan is also looking to involve as many major banks around the world in its initiative to launch Confirm in ten countries by the end of this year. The banking giant plans to expand Confirm’s coverage to thirty countries as early as 2023.

Confirm

Confirm’s global head of banking Alex Littleton has said that “the growth of the platform is very much dependent on network effects”, meaning the more banks that sign up to the initiative the faster it will grow. There is already at least one application from Europe – Deutsche Bank wants to join Confirm.

Overall, Visa and JPMorgan plans may be much more ambitious than the usual partnership. Both are trying to create something on a grand scale that could compete with the Society for Worldwide Interbank Financial Telecommunications (SWIFT), currently the most popular medium for cross-border payments.

We believe that such innovations will end up being good for both Google's reputation and the popularity of digital assets. With this innovation, the world of blockchain will become more intimate and understandable for ordinary people who previously avoided interacting with cryptocurrencies. Now they have one less reason to do so.

Will blockchain succeed in overtaking SWIFT in popularity? Follow developments in our millionaires’ crypto chat. We talk about other important topics there as well.