The cloud data storage is dominated by tech giants like Amazon and Microsoft. But the blockchain-powered Web3 intends to revolutionize this area through decentralization. The world’s largest search engine is preparing to enter this promising field.
Google’s cloud group has announced the formation of a new team for building blockchain infrastructure. According to reports, Google’s parent company has moved its main source of revenue from advertising to cloud computing.
Google’s Web3 Endeavors
In an email to his employees, Amit Zavery (Vice President at Google Cloud) expressed urgency in developing a blockchain-focused group as the leader of this field. This was reported by CNBC.
Zavery stated that the company is a technology provider for Blockchain entities and not a participant in cryptocurrency.
“We are not trying to join that cryptocurrency wave directly. We provide technologies to companies that allow them to take advantage of Web3’s distributed nature in their existing businesses or enterprises.
Zavery pointed out that Google could create a system to make blockchain data easier for people to access and simplify the process of building and maintaining such nodes. This is crucial for validating and recording transactions.
As blockchain applications continue to penetrate industries like financial services, the vice president of Web3 believes that the foundational technologies for Web3 could find their way into mainstream markets. He even suggested bringing Google’s tools into environments such as Amazon Web Services.
Google’s Blockchain Forays
In January, Google’s cloud unit created plans for a Digital Assets Team that would work with customers in response to the rapid growth of NFTs. Google, the search engine giant, stated that it was looking at ways to connect customers with digital payments using cryptocurrencies.
Sundar Pichai, Google CEO, expressed an earlier strong interest in blockchain technology. He called it “interesting” and “powerful”.
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