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GOOGLE FORMS WEB3 TEAM DUE TO "ENORMOUS POTENTIAL"

 


Responding to high demand for Web3

Google Cloud VP Amit Zavery wrote in an email:


Customers have asked for more support for Web3 and crypto-related technologies.


Amit Zavery, a vice president at Google Cloud, told employees in an email seen by CNBC on Friday that the company's cloud platform should be the preferred choice among developers.


He further wrote:


While the world is still in its infancy when it comes to Web3, it is a market that already shows tremendous potential as many customers ask us to increase our support for Web3 and crypto technologies.

What is Web3?

Web3 refers to the next generation of Internet applications that focus on decentralization, allowing users to remain in control of more of their data.


The Google team will work on back-end services for developers building Web3 applications, the email said.


Google wants to compete in the blockchain space

During Alphabet's 2021 Q4 earnings call in February, CEO Sundar Pichai said that the Google Cloud team is just one way the company is positioning its businesses to compete in blockchain technology.


Pichai responded to a question from JP Morgan analyst Doug Anmuth during the conference call:


At Web3 we are definitely looking at blockchain and such an interesting and powerful technology with broad applications that is much broader in every single application. So as a company we are looking at how we can contribute to the ecosystem and add value. Just one example, our cloud team is exploring how to support our customers' needs in building, transacting, storing value and delivering new products on blockchain-based platforms.

The company has been considering how to fit into the crypto space for some time.


In January, Google hired Arnold Goldberg, a former chief product architect at PayPal, to head its payments department. He was still with the payment service provider when it announced that customers could use their accounts to buy Bitcoin and Ethereum.


Back in January, Bill Ready, Google's President of Commerce, announced that as user and merchant demand evolves, we will evolve with it.


The top companies are working on and with the blockchain technology

It's no news that big corporations are eyeing blockchain technology and bitcoin. However, Google has repeatedly commented on this and this shows that solutions are already being worked on and that the best people are working on the technology. This will have a major impact on the industry in the long run.

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