Google wants to support the blockchain- The Cryptonomist


Yesterday, Google CEO Sundar Pichai gave a speech during the conference to present the economic and financial data for the last quarter of 2021. As Bloomberg reports, Pichai admitted that Google is “looking at blockchain” with regard to Web3

Google is watching the blockchain industry

The CEO confirmed that the company is watching the evolution of the blockchain industry wondering how Google’s parent company (Alphabet) can add value to the development of this technology. 

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He also revealed that he finds technological innovation exciting, and that he believes blockchain is: 

“something we want to support the best we can”.

Among other things, during the conference, data was revealed that shows the company’s excellent performance in 2021, so much so that Alphabet’s stock yesterday gained 7.5% on the stock exchange in a single day. 

According to Pichai, blockchain is an interesting and powerful technology with wide applications, so much so that Google Cloud has already announced a few days ago the establishment of a new team dedicated expressly to cryptocurrencies and digital assets. 

Google Cloud
Google Cloud could use digital assets and blockchains.

Google vs Web3

The so-called Web3, the decentralized web, would actually compete with the centralized web represented by Google, and if it really takes off it could bring problems to the parent company, Alphabet. So it’s not surprising that Google is trying to carve out a leading role in a possible new World Wide Web with different characteristics than the current ones.

Barrons also reports that during the conference a lot of space was also given to Google Cloud, and to the cloud services offered by the company. 

The Chief Investment Officer of asset manager J. Stern & Co., Christopher Rossbach, for example, said that although cloud computing is a highly competitive industry, demand will still proliferate, and Alphabet can take advantage of this growth. 

He further added: 

“Companies are increasingly looking to move databases from normal static storage to the blockchain, which will create even more demand for cloud computing. We think that Alphabet will be one of three winners, alongside Amazon and Microsoft , that will emerge from the battle for cloud supremacy”.

Given that in this scenario Google Cloud is set to enable capabilities related to digital assets, if not even cryptocurrency payments, the web giant’s engagement in blockchain and crypto is likely to be game-changing.

 





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