Google is fond of reworking existing concepts in modern ways; you only need to look at HUD glasses and autonomous cars to know that. But at one point in time, it was also mulling the idea of revolutionizing the economy by creating its own currency.
According to IT World, Google has considered the possibility on numerous occasions. Speaking at the Mobile World Congress, Eric Schmidt said:
“We’ve had various proposals to have our own currency we were going to call Google Bucks.”
The idea was to implement a “peer-to-peer money” system, but it was ultimately rejected as the concept’s illegal in many countries. Why? Because governments are scared about its applications for money laundering. “Ultimately we decided we didn’t want to get into that because of these issues,” explained Schmidt. [IT World]