Google Sets Sights On Web 3.0 Through its Blockchain Division
Google is poised to join the race for decentralized infrastructure such as web 3.0. The company joins other blockchain firms as the popularity of the space shows no sign of diminishing.
According to an internal memo seen by Bloomberg, Google has mandated Shivakumar Venkataraman, the vice president of the mega conglomerate to take charge of the company’s “Labs” group, its division tasked with the development of the compan’s blockchain infrastructure. The release shows that the company is rapidly moving in the direction of distributed computing, storage and next-gen applications that is the trend among many big players in the tech field.
Not Entirely A New To Decentralized Space
Google is not entirely new to the blockchain field in terms of affinity, as the company has been serving blockchain firms such as Hedera and Dapper Labs. It is also an active player in rendering its products to Thetha Labs and a number of other blockchain companies.
The Labs group is a division within Google’s empire that is tasked with following up with innovations that the giant would want to keep abreast of as well as developing and rolling out up-to-date products and services that make certain that the company is abreast of technological trends such as the decentralized web.
The division is the brainchild behind the company’s Area 120, which is its in-house incubator that specializes in virtual and augmented reality.
According to the release by Google, the decentralized sphere is an interesting and “powerful” technology. Sundar Pichai, the company CEO said during its Q4 earnings report call in February that the technology has broad applications, more than what is obtainable with other applications.
Google Cloud Already Supports Blockchain Applications
He added that Google is seeking ways that the company would contribute its own quota to the decentralized ecosystem.
Pinchai added that not just him, but that the company is always elated at the prospects of new innovations that could have far-reaching impact on users. He gave an example with the company’s Cloud team and the work they’ve done in supporting the company’s customers. He highlighted that some of the features of the Cloud software already support the deployment and storage of value on blockchain-based applications.
The Google CEO added that the company is paying close attention to the space as it seeks to innovate and participate in the evolving technology.
Hiring Blockchain Talents for Google DLT
The head of the company’s digital assets unit of the Cloud division, Richard Widmann, announced that in coming weeks, the company will hire several blockchain talents to help it realize its vision of a blockchain infrastructure. Blockchain has been promoted as the technology that could revolutionize many industries and the Google team will be focusing on retail and healthcare in the meantime.
Other big players like Microsoft and Meta are already working to make their presence felt in the blockchain space.Last year, Microsoft announced that its metaverse project will be ready for launch by Q3 of 2022.