How has the Historic U-Turn by Google on Cryptocurrency Advertising Impacted the Market?

Those savvy crypto traders amongst you will have noticed the ban on cryptocurrency advertising on their platforms or partner networks by Google Inc in 2018. This was in response to mass adoption and several high-profile scams around ICO's and Ponzi style schemes. You can check out the new updated policy here and let us know your thoughts. Google Inc is signalling huge policy change as of the policy update. If you are an exchange that wants to advertise on Google's platform, you're going to need certification. Check this link to start that process.

ICO's ✗

Yes, you guessed right! They are still not going to assist ICO's in advertising their products and assets. Due to its extremely high speculative nature and history of multiple exit scams, Ponzi schemes etc. They are never going to get behind this kind of advertising.

Investments, signals and affiliates ✗

Google Inc has now decided that these kinds of advertising destinations are not desirable and can often lead to scams. Whilst there are many legitimate businesses out there with this model, it seems for the time being and without a process of verification for these types of businesses that they are stuck with this decision. At least until Google Inc do another review.

Mining Services and Products ✓

Yes, you guessed right! They are still not going to assist ICO's in advertising their products and assets. Due to its extremely high speculative nature and history of multiple exit scams, Ponzi schemes etc. They are never going to get behind this kind of advertising.

Exchanges ✓

Exchanges must apply for each country they wish to advertise their exchange within. Currently only two countries are allowed to have cryptocurrency exchanges advertised on Google platforms. Japan and the United States. This list is expected to grow as mass adoption takes hold and grows.

Mass Adoption

Mass adoption. Sounds great, doesn't it? Well, it should be great for everyone. Mass adoption should enable everyone from you grandad to your daughter to store value electronically without relying on a banking system that is broken and skewed in the favour of the people that run those financial institutions and the 1%. How does mass adoption happen? Essentially, the biggest player in mass adoption is time. Time to prove the technology, time to prove its resistance to interference by governments or nefarious third parties. Time for your neighbour to make you feel outdated and behind the times. Sounds silly, but people copy each other. People want to "keep up with the Joneses" as it were. So yes, that is a major factor in moving the world to a safer, fairer and more transparent financial system. Another major factor at play is how commercial giants and large companies treat cryptocurrencies. How they express their feelings and often concerns about emerging technologies.
As we have seen, the cryptocurrency market is still juvenile, able to be swayed significantly by a single person's tweet being either negative or positive in regards to the subject. We don't need to say his name, his name is said enough globally. But volatility is what makes some markets a fantastic place for making a profit. Buying the dips has proven to be a really successful way to make profit with Bitcoin for instance.

Which Way to Wealth?

Cryptocurrency and blockchain tech should never have been marketed as a way to get rich quick. Sure, if you know what you're doing or if you are lucky and happen to buy a bunch of assets that shoot to the moon, you can indeed make a substantial profit in a very short time. This could be said to have triggered a digital gold rush. Once people saw this potential it was quickly adopted on a small scale, by those who are tech savvy or have good investment advice. It was also adopted by those who only planned to take advantage of those inexperienced or often elderly people looking to make some money honestly. We won't go into detail about those exit scams and Ponzi schemes that have happened in the past, they have been well and truly documented all over the internet. So, which way to wealth? Looking into new and interesting blockchain offerings and understanding the underlying technology is one way. Becoming part of an investment group is another. Staking (POS) can be a great way to generate a return on investment with minimal effort. Google has indeed helped the world get one step closer to mass adoption. They have made it possible for exchanges and legitimate businesses to again hold their heads up high and not feel as if they have done something criminal. It gives the public confidence and the businesses legitimacy.

Can Google Go Further?

Can Google Inc make any more moves to improve the overall outlook for cryptocurrencies and blockchain technologies? Yes, they could. We feel the move to still disallow investment brokers, affiliate marketing and signalling to be troublesome. Google is able to create and set in place a robust verification scheme to allow these kinds of businesses a new place to advertise and promote legitimate business content. This market is of course a murky one with many scams operating as if they are legitimate. We hope that Google Inc endeavours to, at some point, work on allowing this other section of the market to have a clean reputation and thrive.

Did Googles Decision Effect the Market Directly?

In the grand scheme of things, it really had little immediate effect. As the news was announced Bitcoin was in an unprecedented price slump. The news had a fleeting effect on the price which was not sustained for even 24 hours. The decision by Google Inc to allow certain cryptocurrency ads now will have a longer period before we notice any change in how crypto-businesses operate globally. Policy has only just changed, many of those previously excluded were not even aware this change was being considered so were unprepared for this new opportunity to become available. If Google Inc continues to build on this and looks at providing verification schemes to enable businesses to engage in advertising campaigns, the whole ecosystem would have the green light from one of the largest and most powerful companies on the planet.
Andrei Grachev
CEO VRM.trade
CO-FOUNDER BO.market