Google has launched its own blockchain division
Software giant Google has reportedly started a new division centred around blockchain technology
Google wants their new blockchain division to handle distributed computing and data storage technologies
There is much speculation about what these developments could mean, as some observers believe this is Google’s response to competitors in the space
Google’s Labs department is creating a new unit dedicated to blockchain technology, and will be led by Google stalwart Shivakumar Venkataraman.
The Lab is a sandbox department where Google has performed experiments in augmented and virtual reality projects, with their blockchain technology unit being their latest lab creation.
This new unit will focus on “blockchain and other next-gen distributed computing and data storage technologies”, according to a leaked email obtained by Bloomberg. The unit also includes Area 120, Google’s in-house incubator for ventures.
While it’s still unclear as to how the new unit will leverage blockchain technology and distributed computing, analysts see this as a response to how other companies like Meta (Facebook) are utilising these technologies.
Google’s history with crypto hasn’t been an easy one, having previously banned all cryptocurrency-related advertising. Yet, it has since changed and even partnered up with Coinbase and Bitpay.
Google’s president of commerce, Bill Ready, commented on Google’s crypto vision for the future:
“Crypto is something we pay a lot of attention to. As user demand and merchant demand evolves, we’ll evolve with it.”
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