Google is working on its own Blockchain technology

Google is working on its own Blockchain technology

According to some reports, Google is working on technologies related to bloccano, to support its cloud business and prevent competition from new startups.

Many companies use the blockchain and other so-called digital registers for reliable transaction records and processing of data on the Internet. Theoretically Google could use the blockchain to convince the clients to safely store their information in a giant network of computer servers that manage cloud services.

Google Inc. developing its own blockchain, allowing third parties to implement and verify the transaction.Although the timing of the release of the product is still unknown, the company plans to overtake competitors.

The Internet giant acquires and invests in startups with experience with bloccano, however, many of these transactions are kept secret. Despite this, the Alphabet became a leading corporate investor in the past year, ahead of Citigroup Inc. and Goldman Sachs Group Inc.

Regarding the use of Blockchain technology by Google, today we know that the creation of a research group:

“Like many new technologies, we have people on different teams who are studying the potential use of the blockchain, but it’s too early to talk about any possible applications” — said the representative of Google.

In 2016, Google launched a test version for developers who are testing the functions of the blockchain on your cloud. Currently, the company is exploring much wider possibilities of application of technology.

Google — Internet pioneer and has extensive experience in the use of new and open web standards. To build your blockchain, Google considered technology consortium Hyperledger, but he may choose another type that will make it easier to scale. Sridhar Ramaswamy, head of the advertising Department of Google, said at a recent conference that the existing technology base is unable to quickly process multiple transactions.

Some marketing companies have begun to explore the potential of the blockchain to facilitate buying of digital ads without using Google and Facebook Inc., two dominant players in the industry.

Google is trying to keep up with new technologies, and support local startups. For example, the company has invested in Blockchain wallets Luxembourg, network financial transactions, Ripple, a platform for managing digital currencies LedgerX, international payment system Veem and the now defunct Buttercoin.

A lot of startups trying to challenge the online dominance of Google using the blockchain. For example, Brave — the web browser that competes with Google Chrome. According to its Creator, if you compare Brave with existing competitive solutions, loading of pages is 40% faster in the desktop version of the browser and about four times faster in the case of mobile version. Platform BitClave allows users to search online and get rewarded for viewing ads. Another project, Presearch, also uses the blockchain, trying to compete with Google.

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