Are Google, Apple Card and Facebook’s Libra to defeat Bitcoin?
By MYBRANDBOOK
During the coronavirus crisis Bitcoin is gaining traction, while Google, Apple and Facebook are losing momentum. Bitcoin’s strength breeds competition that may result in the tech giants’ intention to kill BTC for own survival. Because of the pandemic, their major sources of revenue – advertising business in cases of Google and Facebook and iPhone sales in Apple’s case – are at low ebb, and it is unlikely whether they will recover after the crisis. Therefore, Google, Apple, and Facebook need to find new revenue streams.
Google was reported to be working on its new smart debit card. Its payment system will allow users to make purchases through card, online, or mobile handsets. Besides, the card will integrate with the Google Pay app, enabling users to keep track of their expenses, balances, and account access. To develop the card, Google has teamed up with Citibank and Stanford Federal Credit Union. The Card will initially come with a Visa-powered chip, but later, Google may add support for other payment processors like Mastercard. According to Google, customers will “benefit from useful insights and budgeting tools.” Dubbed “Cache”, the service is expected to significantly expand Google Pay’s capabilities. The date of the card release is unknown, but the initiative will definitely take place this year.
Last year, Apple launched its own credit card in partnership with Goldman Sachs and Mastercard. Apple Card differs from other cards by combining excellent rewards with a consumer-friendly app. It offers 3% cashback on purchases at Apple, 2% cashback on all purchases made on the card through Apple Pay, and 1% cashback on other purchases. Apple Card provides transparency, simplicity, and privacy and charges no fees. But if customers fail to pay the full balance by the due date, they can attract the interest of 12.99% to 23.99% based on their creditworthiness.
To compete with Bitcoin, Facebook has been long working on its Libra currency. For some time, there has been no news about the developing process, and there were reports about Facebook abandoning the project. However, it is not so. Indeed, the Libra Association pulled away from its original vision of a global stablecoin pegged to a basket of national currencies. Instead, the Association plans to develop several stablecoins to represent different fiat currencies. One Libra coin could be pegged to the Euro, another to the U.S. dollar, and so on.
BREAKING NEWS
TECHNO TRENDS
Nazara and ONDC set to transform in-game monetization with ‘
Nazara Technologies has teamed up with the Open Network for Digital Comme...
Jio Platforms and NICSI to offer cloud services to government
In a collaborative initiative, the National Informatics Centre Services In...
BSNL awards ₹5,000 Cr Project to RVNL-Led Consortium
A syndicate led by Rail Vikas Nigam Limited (abbreviated as RVNL), along wi...
Pinterest tracks users without consent, alleges complaint
A recent complaint alleges that Pinterest, the popular image-sharing platf...
E-Magazine
TECHNOTAINMENT
Netflix adds 'Moments' feature for saving, sharing scenes from
Netflix has introduced a new “Moments” feature on its mobile app, whic
Jacqueline Fernandez come together with YouTuber Mr. Beast for
Jacqueline Fernandez has partnered with American YouTuber Mr. Beast to b
MOVERS & SHAKERS
Visa elevates Rishi Chhabra as new Country Manager for India
Rishi holds a Master’s in Industrial Engineering from The Ohio State Univ
Genesys welcomes Albert Nel as Senior VP and Regional Sales Le
Genesys continues to deepen its investment in the APAC region. Earlier this
OPEN YOUR EYES
INTERVIEWS
Bolstering its commitment to help build a truly self-reliant B
CP PLUS is dedicated to spreading a sense of security to every corner of In
Cisco building a trusted and resilient future for the nation
Security is foundational to everything Cisco does and customers insist on e
HOT PICK
SonicWall Launches TZ80: A Powerful Solution for Remote Office
SonicWall announced today the launch of the TZ80, a groundbreaking securit
Gigabyte X3D Turbo: A Gaming Revolution
GIGABYTE X3D Turbo Mode is a cutting-edge feature that unifies cores distr
MAKE IN INDIA BRANDS
CENTRE FOR DEVELOPMENT OF TELEMATICS (C-DOT)
HIMACHAL FUTURISTIC COMMUNICATIONS LTD.
SAFE SECURITY SERVICES PVT. LTD.
VEHERE INTERACTIVE PVT. LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Icons Of India : NEERAJ MITTAL
He started his career as an IAS Officer in 1992. He has held various a...
ICONS OF INDIA : SRIDHAR VEMBU
Sridhar Vembu is the chief executive officer (CEO) of Zoho Corporation...
Icons Of India : B.V.R. Subrahmanyam
A 1987 batch (Chhattisgarh cadre) Indian Administrative Service Office...
PARTNER SPEAKERS
PSU
HPCL - Hindustan Petroleum Corporation Ltd.
HPCL is an integrated oil and gas company involved in refining, market...
PFC - Power Finance Corporation Ltd
PFC is a leading financial institution in India specializing in power ...
CERT-IN - Indian Computer Emergency Response Team
CERT-In is a national nodal agency for responding to computer security...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - ANJALI SUD, CEO – Tubi
Anjali Sud, the former CEO of Vimeo, now leads Tubi, Fox Corporation...
Indian Tech Talent Excelling The Tech World - Rajiv Ramaswami, President & CEO, Nutanix Technologies
Rajiv Ramaswami, President and CEO of Nutanix, brings over 30 years of...
Indian Tech Talent Excelling The Tech World - Sundar Pichai, CEO- Alphabet Inc.
Sundar Pichai, the CEO of Google and its parent company Alphabet Inc.,...
STARNITE AWARDS 2024
ITFORUM 2024
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
