Cloud data storage, which is mostly controlled by large tech companies like Amazon and Microsoft, are part of what the blockchain-powered Web3 hopes to revolutionize through decentralization. The world’s largest search engine is preparing to enter this promising field.
Google’s cloud group, whose parent company has reportedly shifted its major source of revenues from advertisement to cloud computing, has announced forming a new team specifically for building blockchain infrastructure.
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 clarified that the company is not a cryptocurrency participant but a technology provider to blockchain entities.
“We’re not trying to be part of that cryptocurrency wave directly. We’re providing technologies for companies to use and take advantage of the distributed nature of Web3 in their current businesses and 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.
The vice president believes as blockchain applications continue to infiltrate into industries such as financial services and retail, the foundational technologies for Web3 could “find their way into the mainstream.” He even touted bringing Google’s tools to competitors’ environments such as Amazon Web Services.
Google’s Blockchain Forays
Back in January, Google’s cloud unit laid out plans for a Digital Assets Team to work with customers, following the exponential growth of NFTs. Google, the search engine giant, stated that it was looking at ways to connect customers with digital payments using cryptocurrencies.
Google CEO Sundar Pichai earlier expressed a strong interest in blockchain technology, calling it “interesting and powerful.” He added that the company is obviously “looking at blockchain and Web3” and has planned to support such technology.