We Are Looking at Blockchain And Web3

Sundar Pichai – Chief Executive Officer at Google’s parent company Alphabet Inc. – revealed he closely monitors the blockchain industry and the Web3 universe. He finds both “exciting” and admitted that his firm is focused on moving in that direction.

‘It’s Something We Want to Support’

In its most recent appearance, the 49-year-old Indian spoke about the backbone of the cryptocurrency industry – blockchain technology. While pointing out that a considerable amount of Silicon Valley companies had already embraced Web3 and blockchain, Pichai asserted that his organization is also looking that way:

“Any time there is innovation, I find it exciting. I think it’s something we want to support the best we can.”

The exec also underlined the merits of blockchain technology. In his view, it is “interesting, powerful,” and its concept stands behind numerous applications. “We are definitely looking at blockchain,” he concluded.

This is not the first pro-crypto stance that Alphabet has displayed. In November last year, the Internet mogul invested $1 billion in the futures-exchange company Chicago Mercantile Exchange as the two parties agreed on a ten-year collaboration.

CME offers regulated bitcoin services and is a long proponent of the digital asset industry. It hopped on the bandwagon in 2017 by launching BTC futures trading for its clients.

In the following years, CME facilitated deals for numerous giant institutions, such as the world’s leading digital asset manager – BlackRock. Not long ago, CME doubled down on its crypto endeavors by introducing Micro Ether Future contracts.

Google’s Crypto Forays

In January this year, the world’s largest search engine revealed plans to enable users to store cryptocurrencies in digital cards. The company has put Arnold Goldberg – a former executive at PayPal – in charge of the initiative.

At the end of last month, Google’s online data storage services division – Google Cloud – created a digital asset team. The new unit intends to employ blockchain technology to provide opportunities for building, transacting, storing value, and launching products in the cloud.

Google asserted that the cryptocurrency space had evolved considerably. As a corporation based on innovation and development, it does not want to fall behind that part of a technology revolution, the team explained:

“We’re inspired by the work already done in the digital asset space by our customers, and we look forward to providing the infrastructure and technologies to support what’s possible with blockchain technologies in the future.”

Featured Image Courtesy of BusinessInsider