It is high time for the behemoth company to work on bitcoin-buyer to add substantial value to the technological transition. The majority of the peers that come from the same Silicon Valley have already embraced the technology and aim to make strides in the technological space more than ever. Bitcoin Era brings you some of the exclusive points to consider as Alphabet is developing blockchain based solutions aims to dive deep into the blockchain ecosystem.
With blockchain being incorporated by thousands of companies already, there are some big names in the industry who have displayed the great advantages that blockchain can usher in. The chief executive officer of Alphabet, Sundar Pichai revealed a big statement on Web3 that his company Alphabet is developing blockchain based solutions for its cloud and he believes that the entire blockchain space has taken off significantly in recent years.
Innovation is Addictive
Sundar Pichai has already made it explicitly clear that innovations have always attracted him to bring something new out of the existing products. The concept of digital ownership & cryptocurrencies has fascinated millions of people to enter into a whole new untapped realm. Web3 aims to bring unprecedented innovations that people have not ever witnessed before.
A pool of companies is already working towards developing Web3 and investors are constantly flocking towards it. Also, prominent companies like Meta, Block & Twitter have shown a considerable inclination towards the dynamic trends. There are big plans involved in it such as payment solutions, easy access to digital tokens, etc.
Alphabet is Developing Blockchain Based Solutions
Considering the vast & broad applications of blockchain, Alphabet’s CEO couldn’t help but give in to the ever-expanding network that blockchain has unleashed in quite a few years. Google is actively working towards winning more contracts from big companies that are proactively working in the digital assets domain.
A separate team has been specifically put together to work around all the dynamics of blockchain and Sundar Pichai has finally begun to accept this fact in the mainstream media. However, his stand towards cryptocurrency is still unknown as he didn’t mention anything about accepting payments in cryptocurrency for all the payment services & ads.
A Much-Anticipated Antidote
The Internet provides that are exclusively centralized like Google will not hold as much control with the advent of Web3. This is a statement from the majority of Web3 evangelists who have always backed the technology since its inception. Sundar Pichai’s statement came soon after Alphabet recently posted a colossal profit of $20 billion from all the web properties that it owns.
Google has already invested extensively in the prevalent augmented reality projects. Now, investing in blockchain was somewhat inevitable for the company. You can also read about features of blockchain technology for informative purpose.
The entire blockchain market is pegged to thrive at a CAGR of 70% and this massive growth has been projected between 2019 & 2025. YouTube & Google both fall under the wings of Alphabet have initiated the efforts to finish what they started with Web3 & blockchain technology.
All the primary products & services offered by Alphabet will be equipped with blockchain technology. The technology will be further incorporated to successfully power computers & improve service layers in the like of Google Maps and YouTube.
Benefits Drawn from all Directions
The entire web has evolved significantly and it continues to evolve with each day passing by. Google has benefited incredibly from all the open-source systems and technologies. Now its developers are putting efforts in understanding top 10 cryptocurrencies to invest to build an amazing app.
Hence, this is yet another reason that CEO Sundar Pichai has finally come out to board the train of blockchain technology. Customer demands will be proactively met with the systems built through blockchain technology.
Transformation That the Mainstream Will Witness
Businesses always look forward to more scalable solutions to the problems that they come across almost on a daily basis. They seek out secure infrastructure to base their entire apparatus on as it is important to maintain a secured network. Blockchain has gone full mainstream and continues to penetrate the markets.
Google is expert in innovations that are predominantly data-driven along with providing industry solutions that are going to get a lot more interesting in the coming years. User trust & privacy are yet other areas that Google is aiming to work aggressively towards.
Google started working on a blockchain app for developers few years back. Currently, the business is looking into further applications of the technology. Google, on the other hand, may use a more scalable Hyperledger technology: Google’s advertising manager says, a “small team” is researching blockchain technology, but the existing underlying technology cannot process high volumes of transactions rapidly.
To keep ahead of the curve, Alphabet has always invested in and employed professionals from a variety of fields. In addition to Blockchain Luxembourg, Alphabet’s venture capital arm invested in Ripple, LedgerX, and Veem. Hope this informative article on Google parent company Alphabet is developing blockchain based solutions was interesting to you.
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