Google’s interest in cryptocurrency and blockchain tech increasing is on the rise, albeit slowly. After all, the company has been reluctant to embrace the movement as a whole, but its employees have seen opportunity in it. Former Google engineer Surojit Chatterjee recently quit the company to join Coinbase, whose stake soared to $600 million by April. The vast cryptocurrency wealth has led to a growing FOMO among techies.
Google CEO Sundar Pichai has recently declared his company’s growing interest in blockchain and cryptocurrency. And is planning to support blockchain tech-based businesses through its cloud services. The company is also mulling the possibility of incorporating non-fungible digital tokens in its web platforms. But what exactly does this mean for consumers? While these developments may be promising, it is too early to tell if Google’s interest in cryptocurrency and blockchain tech is a good sign-Google’s Interest in Cryptocurrency and Blockchain Tech Increasing.
Cryptocurrency and Blockchain Tech Increasing
Alphabet has been working to establish a blockchain division within its cloud computing platform, but has not yet publicly stated that it is planning to develop its own solutions. As a large tech company with a centralized data system, Google may be experimenting with blockchain technology to gain a competitive advantage. The company’s recent financial reports showed that it had a 32% increase in Q4 2021 revenue, benefiting from a record $61.2 billion in advertising revenue.
Alongside blockchain companies, Google has also announced its own cloud computing division. This group will focus on blockchain-based applications, and the company’s efforts to diversify away from traditional advertising may be helping its customers adopt this emerging technology. Furthermore, cryptocurrency payments and distributed computing technology may soon become the norm. Google’s new cloud division may also be a major player in the remote data center market. This move indicates that the tech giant is recognizing the potential of cryptocurrency and blockchain, and it could become an even more influential player.
Spokesman for Waters
A spokesman for Waters declined to comment on the company’s interest in blockchain technology. However, a Google representative declined to comment. On the matter because the company does not want to comment on non-public information. He also said that the company does not intend to develop its own digital currency. This is another indication of the importance of consumer protections. In the long run, a new dominant entrant may take advantage of existing gaps and monopolies.
Blockchain technology is proving to be a powerful disruptive force. With its decentralized nature, it makes it difficult for fraudsters to exploit. A recent survey revealed that Bitcoin transactions accounted for nearly half of all online transactions in the world. As more companies and institutions begin using the technology, the opportunities for blockchain applications are seemingly endless. And Google is only beginning. So how can this new technology help the world?
