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Google cloud ventures into the blockchain space with a new Web3 team

Google Searches for Bitcoin Fall On Yahoo and Google In 2019
Google Searches for Bitcoin Fall On Yahoo and Google In 2019

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Google’s cloud unit has unveiled a team that will focus on applications created using blockchain technology. The creation of this team comes amid growing interest in the cryptocurrency sector and Web3 applications.

Traditional industries have been venturing into the blockchain space to attract new users and leverage the opportunities presented by the sector. As a giant leader in the Web2 sector, Google has announced plans to look towards blockchain.

Google Cloud moves into Web3

The Vice President of Google Cloud, Amit Zavery, released an email to his team on Friday saying that the plan was to make the Google Cloud platform the top choice for developers focusing on Web3.

According to an email sent by Zavery to CNBC, he said that “While the world is still early in its embrace of Web3, it is a market that is already demonstrating tremendous potential with many customers asking us to increase our support for Web3 and crypto-related technologies.”

This internal team will exclusively focus on the development of Web3 technologies. The creation of this team shows the commitment of Google to be innovative in the sector. This is not the first time Google has focused on the blockchain sector. In January, Google announced the creation of a digital assets team following the increased interest in non-fungible tokens (NFTs).

Google will also focus on a system that will make blockchain data easy to be accessed. It will promote a simple process of buying and running blockchain-based nodes to be used during transactions. Google is already hiring staff for its Web3 division.

Big tech is attracted to Web3

Google and other big tech companies have increased focus on the Web3 and crypto spaces. Meta and Amazon have also announced big plans for Web3. The two companies are paying attention to the metaverse and the NFT sector.

However, venturing into the crypto space presents challenges for these companies. The crypto space has focused on decentralization, which is not what happens in the traditional tech sector, where data collection and harvesting are required.

“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,” the report added.

The recent move by Google could be the first move by the tech company to venture into the decentralized finance space. If Google reduces its rate of centralization, it could mark the first bold step toward the buzzing Web3 space.

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