Google forming Web3 team to support blockchain
Google has announced it will form a team to develop infrastructure that will support customers who wish to run blockchain applications as the company seeks to take advantage of the efficiency and transparency of blockchain technology.
The Google Cloud division of Google will spearhead the initiative as it seeks to make the Google Cloud Platform the premiere service for developers in the industry. In an email to Google Cloud employees, a vice president at Google Cloud wrote:
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
Google hopes to capitalise on the momentum of Web3 by offering back-end services to developers who want to compose their own similar software. Google has been shifting towards incorporating blockchain technology into their software for some time now, having constructed a blockchain specialist team earlier this year.
The move by Google could encourage wide-reaching adoption by making blockchain technology more accessible and easier to develop. As blockchain becomes more common throughout industries such as financial services, major infrastructure will be required to facilitate and promote growth.
Although Google is not intending to be a part of the cryptocurrency wave directly, it does appear to be focused on offering blockchain-as-a-service to customers by providing support to help customers navigate the blockchain and run blockchain nodes in order to grow their business.