Is "Nearby" Google's answer to iBeacons?

Android Police is reporting a new location based service that seems to be something similar to iBeacons

http://www.androidpolice.com/2014/06/06/exclusive-google-will-soon-introduce-nearby-to-let-other-people-places-and-things-know-when-youre-around/

Nearby lets you connect, share, and do more with people, places, and things near you.

When Nearby is turned on for your account, Google can periodically turn on the mic, Wi-Fi, Bluetooth, and similar features on all your current and future devices. Google+ and other Google services need this access to help you connect, share, and more.

When you turn on Nearby, you're also turning on Location History for your account and Location Reporting for this device. Google needs these services to periodically store your location data for use by Nearby, other Google services, and more.

Read the article for more, but this looks interesting