Google working on blockchain tech for cloud services
According to Bloomberg sources, Google is working on blockchain technology for integration into its cloud platform. It is meant to be a pre-emptive move to stave off startups who seek to disrupt the market by using blockchain.
Some of the key USPs offered by decentralized cloud services like Storj, Sia & Filecoin is that it offers immutability and transparency of data flow over a risk of security penetration that comes with centralized servers.
By using the blockchain as a layer over its cloud infrastructure for providing data integrity and protection, Google would seek to gain an advantage over its cloud competitors such as AWS, Azure etc and eliminate the risks that appear by being one of the largest data centers in the world.
It may also be an attempt to catch up with players like IBM, Microsoft, and Oracle who have made large investments in this space. They also provide services like the IBM Hyperledger, Microsoft Azure’s Blockchain as a Service (BaaS) etc.
To make this offering work, the Alphabet team may be building its own DLT. The timeline of release has not been announced. The technology may be offered as a separate service for people using their own servers. For this, Google may be using existing technology offered by Hyperledger. It is also exploring other blockchains that have the capacity to offer millions of transactions per second.
This is not the first time that Google is encountering blockchain technology. Tech companies pride on being first movers to emerging technologies. Google Ventures, Google’s VC arm has been a major backer of cryptocurrency and DLT firms such as Ripple, LedgerX, Blockchain etc.
The blockchain technology offers a major paradigm shift for industries across the globe. By making inroads into this space, Google seeks to avoid the risks of ignoring this technology and develop an edge over its competitors.
Did you like the news you just read? Please leave a feedback to help us serve you better
Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.