Google looks to help build Web3 and blockchain products according to Alphabet Inc reports as we are reading further in our latest blockchain news.
The tech conglomerate that owns Google considers how to apply blockchain to its business as per the CEO Sundar Pichai. Alphabet Inc said it was looking into Web3 and blockchain technology and said it is ready to start embracing cryptocurrency. Google looks to help build on Web3 and it said that they are looking at how it can apply blockchain networks to its business.
In the Q4 earnings call, CEO Sundar Pichai said that the company is looking at blockchain and such a powerful technology that has many applications. Google hired former PayPal senior vice president and chief product architect Arnold Goldbert to lead the payment division. The company said it is looking into financial services like BTC credit and debit cards. Pichai said:
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“So as a company, we are looking at how we might contribute to the [Web3] ecosystem and add value. Just one example, our Cloud team is looking at how they can support our customers’ needs in building, transacting, storing value, and deploying new products on a blockchain-based platforms. So we’ll definitely be watching the space closely and supporting it where we can.”
Web3 refers to the new division of the internet whcih is already in development and aims to be more decentralized. The idea is that people will be able to use the internet without having to give up their data. Web3 apps already exist and tend to use blockchain networks with the communities behind ETH and BTC being the main power of the two biggest cryptocurrencies by market cap and claiming that their technologies will lead the way to the evolution of the Web. Pichai also noted that Google benefited a lot from open-source technologies as it uses decentralized and open source products that the developers can contribute to and Google plans to pitch in.
Google already opened its arms to crypto by launching google Pay which is an app on Android phones which allows users to make contactless payments that are accepted by millions of merchants across the world and added integration for the Coinbase card as well which enables Bitcoin payments.
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