At the end of January, Google launched a "new dedicated Digital Assets Team". Today, Politico reported that "a group of progressive advocates are pushing Maxine Waters (D-Calif.), the head of the House Financial Services Committee, to hold a hearing on Google’s" new blockchain plans. As reported by Politico, differently from Facebook's grand plan with Libra/Diem, Google "is...looking to create a broader blockchain infrastructure that could be used by a wide variety of cryptocurrencies and other digital assets, and stressed that Google doesn’t “want to take sides in backing any specific currency.” Should we worry? Will the DMA protect us? Antitrust and financial minds in particular will likely need to come together to discuss this. If St. Isidore of Seville (painting: as imagined by Murillo) is the unofficial patron saint of the Internet, we could use a patron of digital competition too. Any candidate?
Friday, March 18, 2022
A patron of digital competition
At the end of January, Google launched a "new dedicated Digital Assets Team". Today, Politico reported that "a group of progressive advocates are pushing Maxine Waters (D-Calif.), the head of the House Financial Services Committee, to hold a hearing on Google’s" new blockchain plans. As reported by Politico, differently from Facebook's grand plan with Libra/Diem, Google "is...looking to create a broader blockchain infrastructure that could be used by a wide variety of cryptocurrencies and other digital assets, and stressed that Google doesn’t “want to take sides in backing any specific currency.” Should we worry? Will the DMA protect us? Antitrust and financial minds in particular will likely need to come together to discuss this. If St. Isidore of Seville (painting: as imagined by Murillo) is the unofficial patron saint of the Internet, we could use a patron of digital competition too. Any candidate?
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J. Ryan, here .
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A. Bradford, A. Chilton, and K. Linos, here .
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C. Pattison et al., here.
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Bloomberg, here.
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FE, here. That was soon after South Korea's decision to dump its DMA too. Big Tech in Asia is likely celebrating, with Trump's sup...
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ARD, Tagesschau hier.
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An Indian undertaking filed an antitrust case against Google 15 y. ago and the case is still ongoingFrom this interesting India ASCOLA webinar, hopefully recording available soon. Why was their DMA "frozen"?
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Gtlaw, here .
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