Reports Show Google Working on a Blockchain Technology For Its Cloud Platform
The blockchain technology has really caught the attention of almost every business sector and more recently we have seen many tech companies willing to use this technology for their platforms. Earlier this year, Facebook CEO said that he will be studying the “blockchain technology” over the year hinting that he might plan to shift Facebook on a decentralized platform ahead in the future.
According to the latest reports from Bloomberg, search giant Google is currently working on its own blockchain technology. While sighting a person familiar with the matter, the publication reported that the search giant is currently working on its own blockchain-related technology which will support its cloud business and “developing its own distributed digital ledger that third parties can use to post and verify transactions.”
The blockchain technology allows companies to safely record the digital transactions while processing the data over the internet. It is very much possible that Google can be using the same service and thus reassure its customers that their data is being protected which is stored on the giant network of computer servers powering the company’s cloud services.
One person familiar with the company operations also said that many people working in the Google’s infrastructure group lead by cloud chief Diane Greene have been working on different blockchain protocols in the recent months. Other Google insiders, who refused to be identified, said that the cloud business is a natural place for blockchain-related services.
A Google spokesperson said: “Like many new technologies, we have individuals in various teams exploring potential uses of blockchain but it’s way too early for us to speculate about any possible uses or plans.”
Senior Vice President of Advertising and Commerce at Google - Sridhar Ramaswamy - said that the company is currently experimenting with different research projects to see the possibility of implementing blockchain technology to its own range of products.
However, while recently speaking at an Advertising Week Europe conference in London, Ramaswamy downplayed any such speculation saying, “it is super early for us to say whether they are going to become products just yet. We don’t have really any product announcements to make on this front.”
He further added: “This is a research topic, so I don’t have anything super-definitive to say. We have a small team that is looking at it. The core blockchain technology is not something that is super-scalable in terms of the sheer number of transactions it can run.”
Google has been actively involved in the blockchain space for quite some time as the tech giant is seen investing and acquiring different startups with expertise in blockchain technology. Last year, Google’s parent company Alphabet emerged as a major investor in this field.