Google is preparing to release a new service called Google Mine - integrated with Google+ according to unofficial reports on the web.

In a blog posted by Google Operating System, providing unofficial news and tips about Google, the site claims the search giant is internally testing the new service, which keeps track of the items you own or you'd like to have or share.

"Google Mine lets you share your belongings with your friends and keep up to date with what your friends are sharing," the blog claims.

"It enables you to control which of your Google+ Circles you share an item with.

"It also lets you rate and review the items, upload photos of them and share updates on the Google+ Stream where your friends get to see and comment on them."

In a further revelation, the blog claims Google Mine lets you "organise the things you own, use, wish for, and more: gadgets, clothing, electronics, DVDs, cars, bikes or anything."

It also enables social interactions around them with your Circles using Google+:

• Catalog your belongings, track what you have

• Review your belongings for your friends to see

• Control who sees what, track conversations

• Send requests to borrow or try out friends' stuff

• Share stuff you wish for, get recommendations

• Share stuff you are giving away, find takers

• Follow, browse, search stuff that friends share

According to the site, an Android app is also available, allowing users to change the status of objects they own to either "lent", "lost", "got it back", "given away" etc.

"You can post videos about the object, write reviews, add it to a wishlist and maybe others can buy it using Google Shopping," the site also claims.

"You can also check popular items and the items others have shared."

After adding an object, Google shows this message: "You have just started using Google Mine and have added some items to your collections. Now, you can let your friends know by posting to your Google+ Stream."

But with no response from Google as yet, it will be a case of sitting and waiting until the official details are revealed.

What are your first impressions of Google Mine? Tell us your thoughts below