Google Explores Blockchain Products – CEO Shares Web3 Strategies – Featured Bitcoin News

Google has shared some details of its Web3 and blockchain strategies. “As a company, we are looking at how we can contribute to the ecosystem and add value,” said Sundar Pichai, CEO of Google and its parent company Alphabet Inc.

Google's Web3 and Blockchain Strategies

The CEO of Alphabet Inc. and its subsidiary Google, Sundar Pichai, shared some information about the group's blockchain strategy during the company's fourth-quarter earnings call last week.

Pichai was asked for his opinion on web3 and Alphabet's approach to the industry. “Every time there is innovation, I find it exciting,” began the Google CEO and continued:

At web3 we are definitely looking at blockchain and such an interesting and powerful technology with broad applications, which in turn is so much broader than any single application.

“As a company, we are looking at how we can contribute to the ecosystem and add value,” he continued, adding:

Just one example: Our cloud team is exploring how to support our customers' needs in building, transacting, storing value and deploying their products on blockchain-based platforms.

"So we'll definitely be watching the space closely and supporting it where we can. Overall, I think the technology will continue to evolve and innovate, and we want to be pro-innovation and approach it that way," the CEO said.

Google's cloud division recently formed a group to build businesses around blockchain applications. Richard Widmann, head of strategy for digital assets at Google's cloud unit, said the group plans to hire a lot of people with blockchain expertise. “We think if we do our job right, it will drive decentralization,” he was quoted as saying by the media.

The executive added that Google is currently considering what types of services it can offer directly to developers in the blockchain space. Thomas Kurian, Google's cloud CEO, has identified a number of areas, including retail and healthcare.

Shivakumar Venkataraman, a Google engineering vice president, now leads a unit focused on "blockchain and other next-generation distributed computing and data storage technologies," Bloomberg reported last week.

What do you think of Google's Web3 and blockchain strategies? Let us know in the comments section below.

Kevin Helms

As a student of Austrian economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects, and the interface between economics and cryptography.

Photo credit: Shutterstock, Pixabay, WikiCommons