Google Is Working on Its Own Blockchain-Related Technology
Mar 24, 2018 Posted / 3049 Views
Google is working on its cloud business to team with blockchain technology to prepare itself for upcoming competition from emerging startups that could use this hyped technology in new ways.
Google can use this transparent ledger technique to safely record and process customer information which is stored on cloud servers.
The Alphabet Inc. unit is developing its own public ledger that different companies can use to post and verify transactions. Although the release date is still not clear. The company goal is clear to offer different cloud services from others.
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Alphabet Inc. has been investing in many startups related to ledger services.
The blockchain technology presents challenges and opportunities to Google. Decentralisation from blockchain offers security by sharing information to all the computers in the network than by a single company. Google offers great security in the terms of the days stored in its databases but it can face possible challenges I future because of the transparent and decentralized behavior of blockchain.
Elad Gil, a startup investor who worked on early mobile projects at Google said,"Any time there’s a paradigm shift like this, there’s an opportunity for new giants to emerge,but also for incumbents to adopt the new approach”.
The Google’s advertising chief Sridhar Ramaswamy, said that they are working on blockchain but they noted that it cant handle a lot of transaction quickly.
It is quite believed that IBM and Microsoft benefit most from distributed ledger technology. According to WinterGreen Research, the market for blockchain products and services can grow from 706 million USD to 60 billion USD in 6 years.
Several startups have been using digital ledgers that are challenging Google’s online dominance. Recently a web browser named Brave launched which is going head ion with chrome which uses blockchain services. BitClave lets people earn watching ads and is a search engine.
You are going to see lots of money being spent on this technology for Research and Development because of lots of possibilities. Now no one wants to wait because of time is taken by internet and smartphones to capture the market was very small, so no one wants to miss out like NOKIA did with Android.
Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .
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