Bitcoin News and Finance
Report: Google Launches Blockchain Division Skip to main content

Report: Google Launches Blockchain Division

google

The software behemoth Google has reportedly started a new blockchain-based division inside its Labs group. The division will also deal with other distributed computing and data storage technologies. While the company has been wary of associating with any form of cryptocurrency, Bill Ready, Google’s president of commerce, stated on January 19 they were paying a lot of attention to the area.

Google Goes Blockchain

Google, one of the biggest software companies in the world, is reportedly launching a new blockchain division as part of its Labs group. The blockchain division will be led by Shivakumar Venkataraman, an engineering vice president for Google. The division will focus on “blockchain and other next-gen distributed computing and data storage technologies,” according to an email obtained by Bloomberg.

While the company has been involved in certain blockchain projects, it has been very wary of being associated with any cryptocurrency in particular. The new blockchain division will be directed to the experimentation with these decentralized technologies under the umbrella of the Labs group. Labs is an experimental division that groups all the AR and VR efforts, and other potential projects in the tech area. The new Google Labs group also includes an in-house incubator for projects called Area 120.

This development is seen by some analysts as a response to how other companies like Meta (formerly Facebook) are growing to include more of these new developments into their business model.

Closer to Crypto

The company, whose stance on crypto was delicate, even banned all cryptocurrency-related advertising including initial coin offerings, crypto exchanges, cryptocurrency wallets, and cryptocurrency trading advice from its platform, has changed.

Since then, it completed a partnership with Coinbase and Bitpay, two cryptocurrency exchanges, to include allowing customers to store cryptocurrency in digital cards. However, the company is still not accepting cryptocurrency transactions. Also, last year, the company also inked a partnership with Bakkt, a digital platform, to allow users to spend cryptocurrencies using its card on the Google Pay platform.

Google’s president of commerce, Bill Ready, commented on the vision that the company has on cryptocurrencies and their possible uses. At the time, Ready stated:

Crypto is something we pay a lot of attention to. As user demand and merchant demand evolves, we’ll evolve with it.

The company also announced recently it was hiring a former Paypal executive, Arnold Goldberg, as a part of a push to include new services in its platform, including cryptocurrencies.

What do you think about the launch of Google’s blockchain division? Tell us in the comments section below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Post a Comment
Read more
Blogarama - Blog Directory