Google Cloud Launches a Digital Assets Team

Google Cloud, Google’s online data storage services division, is increasingly focusing on decentralized technologies and announced the creation of a team to focus on building products on the blockchain.

There are already other initiatives currently using blockchain technology to offer cloud storage with Filecoin and Sia at the forefront. Both use a blockchain protocol to connect those who need storage and are willing to pay a share to get it and those who can offer some of their free space. This way, the protocol makes it possible to store the data in a decentralized network that can be maintained even if a stakeholder leaves the grid.

But unlike these decentralized initiatives, Google’s approach is broader. It hopes to use blockchain to offer services for building, transacting, storing value, and launching products in the cloud.

Google Rides the Blockchain Wave

In an official blog post, Google explains that the blockchain industry has evolved considerably, and as a technology corporation, they too want to be part of this revolution. They expressed feeling “inspired” by everything that has been achieved so far in the field of decentralized technologies.

We’re inspired by the work already done in the digital assets 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.

The digital assets team at google cloud is premised on helping its customers “underpin the blockchain ecosystems of tomorrow,” the company said.

At the helm of the new digital assets division is Rich Widmann, a well-known technology lawyer who has previously worked with Google as Product Counsel and with Hedera Hashgraph as well.

But even before the launch of the team, Google was already exploring various use cases for digital assets and blockchain. On January 19, 2022, Cryptopotato reported that Google was considering to allow users to store cryptocurrencies in digital cards.

At the time, the company hired Arnold Goldberg, former VP of merchant product and technology at PayPal, to be in charge of this division.

Tech Giants Explore Different Use Cases For The Blockchain

The exploration of blockchain technology and the steady inflow of institutional capital into blockchain-related startups have not been off the radar of tech giants.

Google has already secured partnerships with Coinbase, Bakkt and has worked on compatibility with other protocols like Chainlink.

In addition to Google, Amazon Web Services is also exploring the use of blockchain technology. As Cryptopotato reported in late 2021, Amazon was looking for a technology specialist with experience in team management to head its Digital Currency and Blockchain Product Unit.

Another notable case is Facebook. The social media behemoth changed its name to Meta to focus on developing initiatives in the metaverse. And the Chinese tech giant Tencent is also making big moves to focus on the metaverse, having bought Xiaomi’s flagship gaming company, Black Shark, to strengthen its metaverse product development unit.