Software giant Google has reportedly formed a new blockchain-based division within the lab group. This department will also consider other technologies for distributed computing and data storage. Google President Bill Lady said on January 19 that he is paying close attention to this area.
Google Goes Blockchain
Software giant Google has reportedly formed a new blockchain-based division within the lab group. This department will also consider other technologies for distributed computing and data storage. Google President Bill Lady said on January 19 that they were paying close attention to this area.
Google, one of the world’s largest software companies, is reportedly launching a new blockchain division as part of the Labs group. The blockchain division is headed by Shivakumar Venkataraman, Google’s Vice President of Technology. According to the email received by Bloomberg, this division will focus on “blockchain and other next-generation distributed computing and data storage technologies.”
The company is involved in certain blockchain projects, but is very cautious about being associated with any particular cryptocurrency. The new blockchain division under the Labs Group will focus on experimenting with these decentralized technologies. Labs is an experimental division that brings together all AR and VR initiatives, as well as other potential projects in the technology arena. The new Google Labs group also includes an internal incubator for a project called Area 120.
Closer to Crypto
Since then, we have partnered with two cryptocurrency exchanges, Coinbase and Bitpay, to allow customers to store their cryptocurrencies on digital cards. However, the company has not yet accepted cryptocurrency transactions. Last year, the company also partnered with Bakkt, a digital platform, to allow users to use cryptocurrencies with their cards on the Google Pay platform.
Bill Ready, Google’s commerce president, commented on the company’s vision for cryptocurrencies and their potential uses. At that time, Ready explained:
Crypto is something we pay a lot of attention to. As user demand and merchant demand evolves, we’ll evolve with it.
The company recently announced that it was hiring former PayPal executive Arnold Goldberg to bring new services, including cryptocurrencies, to the platform.
