Cloud storage, heavily controlled by big tech companies like Amazon and Microsoft, is partly what the blockchain-driven Web3 economy is set to revolutionize through decentralization. The largest search engine in the world also wants to appear in this field.
Google Cloud, whose parent company has reportedly moved its main source of advertising revenue to cloud computing, has announced the creation of a new team dedicated to building blockchain infrastructure.
Google’s Web3 initiatives
According to CNBC, Amit Zavery, vice president of Google Cloud, expressed the urgent need to create a blockchain-focused team in an email sent to his employees.
Zavery explained that the company is positioning itself as a technology provider for blockchain entities rather than a direct participant in the cryptocurrency market.
We are not trying to be directly part of this cryptocurrency wave. We provide technologies for businesses to use and exploit the distributed nature of Web3 in their current businesses and enterprises.
The CEO also noted that Google could develop a system to make it easier for people to explore blockchain data. At the same time, it wants to simplify the process of building and running nodes, which is necessary for validating and recording transactions.
As blockchain applications seep into industries such as financial services and retail, the core technologies for Web3 could “find their way into widespread use,” he said. He even proposed introducing Google tools to competitors’ environments, such as Amazon Web Services.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.