If you’ve been wondering what is Google Blockchain Technology, you’re not alone. Many other companies, including Apple and Amazon, have thrown their weight behind the technology, but Big Tech has been rather slow to embrace it. But with the rise of Web3 and the metaverse, the industry has begun to acknowledge its potential. Now, Google has reportedly founded a blockchain unit, led by engineering vice president Shivakumar Venkataraman. Although Google hasn’t commented on the report, the move to create its own blockchain unit is not entirely surprising.
It has also attracted the attention of other cloud providers, such as Amazon Web Services and Microsoft. These companies are interested in blockchain and decentralized applications, and have announced their own managed blockchain services. Amazon Web Services has been particularly interested in the topic, announcing a managed blockchain service in 2018. It also has listed such customers as Accenture, AT&T, and Nestle as customers. This development could spur further innovation and adoption of blockchain.
As a leading cloud infrastructure provider, Google Cloud has also made a significant investment in blockchain. They see the rise of blockchain technology as analogous to the rise of open source in the early days of the internet. It’s yielding tremendous value and innovation for businesses and consumers. But to take advantage of it, they’ll need scalable and secure infrastructure to support this technology. The company is partnering with the Digital Assets Team to help them build blockchain networks and to provide tools to developers.