How is the Google giant secretly pursuing blockchain?


Bloomberg recently reported that Goolge is researching blockchain technology to support cloud computing business.

The blockchain platform allows startups to provide new online services, ensuring information is stored more securely and efficiently compared to traditional online hosting methods. These new startups are increasingly proving strong competition for traditional technology companies, especially those working in storage space solutions, such as cloud storage.

Blockchain – the killer of every traditional internet company, even Google

Decentralized ledgers such as blockchain allow all transaction information and data point processing to be recorded and updated simultaneously on all computer systems in the network. As this practice ensures secure and efficient storage and recovery of business data, businesses are increasingly moving from traditional hosting to digital ledgers and blockchain.

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With the growing number of blockchain-based online services, decentralized ledger technology in general is posing a natural threat to traditional internet-based businesses.

Image: The Indian Express.

Google is reportedly venturing into the blockchain space to support its cloud business. Because Google not only faces other cloud service providers like Microsoft Corp, Google also has to face stiff competition from new blockchain service providers that have mushroomed after the rain.

“An Alphabet affiliate is developing its own kind of decentralized ledger that third parties can use to paste and verify transactions,” Bloomberg said, citing sources familiar with the matter.

The company also hopes to provide a version of the white-label decentralized ledger – which allows companies to rebrand the products / services they develop on the platform, as products / services. service of their own.

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With such a white-label platform, Google – which currently stores all customer data on its servers and data centers – may also provide its own blockchain platform that customers can fully utilize. ownership, control and operation.

Big man’s move

Blockchain has been on Google’s sights for a long time, because of the emergence of this technology as a natural extension to cloud-based services.

Recently, Google has been quite aggressive in acquisitions and investments in blockchain startups.

In 2017, the blockchain market is worth $ 706 million and is expected to grow dramatically to $ 60 billion when a new digital economic infrastructure is created.

Although many of the deals were not disclosed, the CB Insight report ranked Google as number 2 on the list of the most active investors in blockchain from 2012 to 2017. At the top of the list is SBI Holdings, while Overstock.com Inc (OSTK), Citigroup Inc (C) and Goldman Sachs Group Inc (GS) are all behind Google.

The internet giant also holds a large number of blockchain experts in its system.

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“Like many other new technologies, we have individuals in different groups researching blockchain’s potential uses but it is too early to speculate on any uses or plans,” Phat said. a Goolge spokesman said.

There is also some information that Google may be coming up with an enhanced version of the blockchain. Sridhar Ramaswamy, Google’s advertising director, said his department has a small team working on blockchain, but the core technology is unable to process many transactions quickly.

Over the past decade, the blockchain market has grown quite slowly. However, it is poised to increase sharply in the next few years. According to estimates from WinterGreen Research, in 2017 the blockchain market was worth $ 706 million and is expected to grow dramatically to $ 60 billion when a new digital economic infrastructure is created.

Not only Goolge, some tech giants like IBM and Facebook have also shown interest in digital currencies, cryptography and decentralized technology.

Mr. Sa / The Investor
* Source: Young intellectuals

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