Ban on Cryptocurrency Ads Not Good for Consumers2018-05-31
Starting in June, Google will no longer allow any advertising about cryptocurrency-related content. It’s a hard move, but the online giant is following in the footsteps of Facebook who initiated similar measures at the start of 2018.
While a potentially lucrative and growing marketplace, there’s still a lot of hesitation and concern about potential scams.
Google's director of sustainable ads, Scott Spencer recently said in an interview with CNBC: "We don't have a crystal ball to know where the future is going to go with cryptocurrencies, but we've seen enough consumer harm or potential for consumer harm that it's an area that we want to approach with extreme caution.”
So, is banning ads promoting cryptocurrencies the right thing to do?
"Google's ability to censor these ads is exactly why decentralization and censor-proof media and currency is so important," says David Noble, director of the Peter J. Werth Institute for Entrepreneurship and Innovation.
"Do people want Google to make the decision as to what they can and can not see? Where do they draw the line," Noble asks.
Noble focuses on technology entrepreneurship in the digital economy. He is often sought out by media for his perspective and insight regrading cryptocurrencies and technology. David is available to speak with media, simply click on his icon to arrange an interview.