Google has revealed its plans to venture into the much-hyped Web3 sector. The tech giant is taking a long leap to show its commitment to moving into Web3 and taking advantage of the concept of decentralization.
Google ventures into Web3
Google’s cloud unit has announced the formation of a new team that will exclusively focus on blockchain technology and Web3. This team will allow the tech giant to strategize its foray into the buzzing cryptocurrency sector.
Cloud data storage has become increasingly popular over the past few years. Google is not the only tech giant interested in the concept. Amazon and Microsoft also have cloud data storage departments. However, Google is taking its cloud storage unit to the next level by linking it with innovative technologies.
The world’s largest search engine has invested heavily in advertisements and marketing strategies for its cloud computing unit. The new team focusing on the blockchain is expected to benefit from this funding, cementing Google’s plans for the blockchain space and Web3.
The vice president at Google Cloud, Amit Zavery, expressed the urgent need to create a team that was focused on blockchain. In an email shared with CNBC, Zavery said that there was a need for Google to become a leader in matters blockchain.
However, Zavery noted that Google was not interested in a personal approach to cryptocurrency activities. Rather, it positioned itself as a technology provider to companies operating using blockchain technology. This approach could help traditional businesses that are yet to venture into blockchain to do so.
“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 added.
Zavery also said that Google was working on a solution that could make it easy for new individuals and businesses to venture into the cryptocurrency space. The company was planning to make blockchain data easily accessible by simplifying the process of creating and running nodes. This process is crucial to businesses that want to validate and record transactions.
The executive also remained optimistic about the growing adoption of blockchain technology. He noted that blockchain applications would continue to find a use case across different industries, including finance and retail. According to him, Web3 applications could also “find their way into the mainstream.”
Moreover, Zavery also hinted at plans to make Google’s blockchain tools available to competing cloud services such as Amazon Web Services. Such a move could position Google at the top of the blockchain hierarchy, allowing it to dominate a space that many tech giants are rushing to get ahold of.
Google’s blockchain plans
In January this year, the Google cloud unit outlined its plans for a digital assets team. The team would work closely with the customers to explore emerging concepts associated with blockchain, including non-fungible tokens (NFTs).
Google said that it was looking into connecting customers with digital payment methods such as cryptocurrencies. The demand for cryptocurrency payment options and NFT integration has been rampant among tech giants. Recently, Meta’s Instagram announced it would integrate NFTs from Ethereum, Solana, Polygon and Flow blockchains.
The CEO of Google, Sundar Pichai, has also expressed interest in blockchain. According to the executive, blockchain technology was “interesting and powerful. He also said that the tech giant was exploring blockchain and Web3. Google’s plans to support these emerging technologies have also been highlighted by other leaders at the company.
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