Blockchain Products Being Explored by Google: Web3 Strategies Shared by CEO

Synopsis

“The CEO of Alphabet Inc. and its subsidiary Google, Sundar Pichai, shared some of the strategies for the blockchain domain that Google is formulating, during the Q4 earnings call. The CEO claimed that the company is looking to contribute to the blockchain ecosystem and provide its customers with blockchain based services. He also said that the company is closely looking into blockchain technology and its integration into Google’s business model.”

Sundar Pichai, CEO of the Alphabet Inc. and its subsidiary Google during Google’s Q4 earning call was asked about his views on Web3 and the company’s approach towards the industry. Replying to the question Pichai said “Anytime there is innovation, I find it exciting. On web3, we are definitely looking at blockchain, and such an interesting and powerful technology with broad applications, so much broader, again, than any one application. As a company, we are looking at how we might contribute to the ecosystem and add value”.

He continued giving an example of such a service being explored by Google in which the Cloud team is looking at how they can support the customer’s needs in building, transacting, storing value, and deploying their products on blockchain-based platforms. He also stated that blockchain technology will keep on evolving and Google will take a pro-innovative approach to support and adopt this evolution.

The cloud division of Google has recently formed a group that will explore the possibilities of developing a business around the blockchain technology and the company is looking to hire the blockchain experts for the job as the company wants to boost decentralization in the cloud services using the blockchain model.

Entry of the Giants like Google into the blockchain space can lead to extensive and widespread adoption of the blockchain sphere resulting in a huge and rapid growth of the industry and a far quicker evolution in the technology.