Google has set up a BTM at its London campus to analyze the usage of the cryptocurrency and developing new ideas based on the virtual currency.
In the past, Google has hinted at supporting Bitcoin in its products through its Wallet service but the company never went public with its intentions. Now, TechRadar has reported that the search giant has installed a Bitcoin ATM at its London campus, allowing users to purchase food and drinks using the cryptocurrency.
The report mentions that the BTM has been installed for experimental purposes to analyze the usage of Bitcoin and encourage people to develop new experiences based on the virtual currency. For payment purpose, the BTM uses an application called Wyre on a smartphone authenticated using Callsign. The machine is said to accept notes and the users need to have a Bitcoin wallet which can store the deposited funds.
Although, Bitcoin is far from being widely used and its value has fallen since its peak last year, there could still be a comeback for the virtual currency if big companies like Google manage to create unique and secure ways to carry out transactions across platforms.
Source: TechRadar | Image via TechRadar