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Google Cloud seeks to play a major supporting role in Web3 expansion by creating a dedicated team for blockchain services.
Google Cloud Platform is putting together a Web3 specialist team to take advantage of cryptocurrency and blockchain technology. The cloud computing services suite says its new Web3 team will focus on building services for developers running blockchain applications. In addition, the team will also provide blockchain services to enterprises and customers looking to leverage the technology.
The new Google Cloud Web3 division, to be helmed by former Citigroup executive James Tromans, already has a descriptive agenda set out. This reportedly includes better management of blockchain nodes as well as software for exploring blockchain data in third-party applications. Back in January, Google already hinted at this specialist division with pre-existing and established partnerships with blockchain projects. The company believes that the emerging metaverse and all its trappings offer so many untapped opportunities to exploit.
Google Cloud Executive Touches on Latest Web3 Initiative
Commenting on Google Cloud’s Web3 group, Amit Zavery, vice president at Google Cloud, wrote in a company email:
“While the world is still early in its embrace of Web3, it is a market that is already demonstrating tremendous potential with many customers asking us to increase our support for Web3 and Crypto related technologies.”
In addition, Zavery also stated that the plan is to make the Google Cloud Platform the premier choice for developers. Furthermore, the VP also doubled down on this statement in a media session, emphasizing the new group’s ‘supporting role’ in crypto advancement. As he put it to CNBC:
“We’re not trying to be part of that cryptocurrency wave directly. We’re providing technologies for companies to use and take advantage of the distributed nature of Web3 in their current businesses and enterprises.”
The services offered by the Web3 group will be similar to those already offered by big tech companies, including Alibaba and Amazon. Microsoft also previously offered blockchain services until last year, when the software giant ended its Azure blockchain services. As it stands, Google Cloud will inevitably be competing with Alibaba and Amazon for market share in cloud infrastructure services. The company currently trails Amazon and Microsoft in cloud computing, but is experiencing rapid growth in its business sector there. In fact, this is even growing at a faster rate than Google’s core advertising unit.
Google Digital Assets Team
In January, Google Cloud disclosed plans for a Digital Assets Team to work with its customers. This came about following the explosive growth of non-fungible tokens (NFTs), and at the time, Google was exploring crypto payment options. Some of the blockchain-focused companies that Google has collaborated with include Chainlink, Ontology, EOS, Theta Network, Hedera Hashgraph. In addition, the multinational tech company has also worked on a blockchain project with Dapper Labs’ Flow blockchain.
Blockchain applications and digital currencies continue to make inroads into mainstream businesses and finance. This trend now also sees several established businesses, such as Nike and Warner Music Group, build Web3 products and experiences.