Google to dive deep into blockchain technology through a newly formed blockchain team called Digital Assets Team within its Cloud platform.
In a blog post on Thursday, January 27, Google Cloud announced that it had established a dedicated Digital Assets Team to fulfill its customers’ needs for building new products on blockchain-based platforms.
We're launching a new, dedicated Digital Asset Team to help underpin the #blockchain ecosystems of tomorrow. Whether you're implementing blockchain strategies or blockchain-native, you can rely on our scalable, secure and sustainable infrastructure ↓ https://t.co/YirBzA0sPe
— Google Cloud (@googlecloud) January 27, 2022
The announcement reads:
“Building on our existing work with blockchain developers, exchanges, and other companies in this space, we are announcing today a new, dedicated Digital Assets Team within Google Cloud to support our customers’ needs in building, transacting, storing value, and deploying new products on blockchain-based platforms. This new team will enable our customers to accelerate their efforts in this emerging space and help underpin the blockchain ecosystems of tomorrow.”
The blog post notes that some of the big names of the crypto and blockchain industry like NFT pioneer Dapper Labs, Hadera Hashgraph, and video Network Theta are already using Google Cloud’s blockchain services. The new Digital Asset Team will bring forward several short- and long-term initiatives to provide companies with scalable, secure, and sustainable infrastructure to grow their businesses and support their networks.
Some of the initiatives include dedicated node hosting/remote procedure call (RPC) nodes for developers, node validation and on-chain governance with some partners, and assisting users and developers in hosting their nodes on the cloud.
Another planned initiative is:
“Hosting several public BigQuery datasets on our Marketplace, including full blockchain transaction history for Bitcoin, Ethereum, Bitcoin Cash, Dash, Litecoin, Zcash, Theta, Hedera Hashgraph, Band Protocol, Polygon, XRP, and Dogecoin.”
The best news for crypto fans is that Google Cloud is also “exploring opportunities in the future to enable Google Cloud customers to make and receive payments using cryptocurrencies.”
Despite the initial hesitation, Google has been dipping its toes in the crypto space for quite some time, partnering with several crypto companies through 2021. Google has recently hired a former PayPal executive Arnold Goldberg to lead Google’s payments division that will work to expand Google Pay into a comprehensive digital wallet that will also support crypto payments.
American tech giants are now getting into the crypto industry allowing the crypto community to predict a great future for this nascent market that is currently trying to get up from its recent plunge.
On the other hand, Russia is also expected to have crypto regulations in place by the end of this year as a working group has drafted a road map.