Some companies use blockchains and other so-called digital books to securely record transactions and process other data on the Internet. Google can use this technology to assure its customers that its information is protected when it is stored on computer servers that support cloud services.
One person familiar with the matter said that Alphabet’s subsidiary is developing its own distributed digital ledger book, which can be used by third parties to publish and verify transactions. Although the timing of product launch is not yet clear, the company plans to provide this product. In order to differentiate its cloud services from competitors, the source added that Google will also provide a white label version that other companies can install on their own servers.
The internet giant is also acquiring and investing in start-ups with digital ledger expertise. Many transactions have not yet been announced, the source said. However, according to research firm CB Insights, last year, Alphabet’s subsidiary has become a major player in the field. Investors, ahead of Citigroup and Goldman Sachs.
According to another person familiar with the matter, in recent months, several people on the Google Infrastructure team have been working on the blockchain protocol, and their top boss is Diane Greene, Google cloud business director. The insider of Google, who declined to be named, said recently that the cloud computing business should have a place in the blockchain related services.
A Google spokesperson said: 'As with many new technologies, several of our various teams are already exploring the potential uses of the blockchain, but guessing any possible use or plan is still premature.'
In 2016 Google started to test blockchain services with some developers in the cloud. Informed sources said that the company is currently exploring how to adopt this technology in a wider range of ways.
Digital block books, like blockchains, are also supporting the development of Bitcoin and other cryptocurrencies. They are databases that are regularly updated on the Internet through thousands of computers. Each entry is confirmed by these machines. Machines can be part of the public network and can also be operated privately by companies. There are many types of digital books, and blockchains are just one of them. The technology has a wide range of data analysis, covering everything from transactions to supply chain updates to digital cats. .
This technology brings challenges and opportunities to Google. Digital books running on distributed computer networks can eliminate the risk of a single company holding information centrally. Although Google’s security measures are tight, it is the world's largest information holder. One of them. The decentralized approach also started to support new online services, which are competing with Google.
Despite this, as an Internet pioneer, Google has long-standing experience in recognizing new, open web standards, and has begun to understand this technology and build its own digital books. However, people familiar with the matter said that Google may be another type to make it easier Running millions of transactions.
At a recent meeting, the head of Google's advertising department said that his department has a 'small team' that is paying attention to the blockchain, but he also pointed out that the existing core technologies can't quickly handle a lot of transactions. Some marketing companies have started Explore how to get rid of the shackles of the industry's two giants and use the potential of blockchain to promote digital advertising without using Google and Facebook technology.
When Alphabet wants to keep up with the development trend of emerging technologies, it often adopts methods to support startups in the industry and conduct small-scale acquisitions to recruit talents. According to statistics from CB Insights, the GV, a subsidiary of Risk Capital, an Alphabet company, has Capitalizes on purse service providers Blockchain Luxembourg, Ripple, the financial trading network, Cryptocurrency asset management platform LedgerX, international payment provider Veem, and now disbanded Buttercoin.
So far, other tech giants such as IBM and Microsoft are leading the way in providing blockchain-related tools that allow some companies to use their cloud services to build their own digital books. WinterGreen Research believes that blockchain products The market size of services and services is expected to grow from 760 million U.S. dollars last year to more than 60 billion U.S. dollars by 2024. Cloud giant Amazon is helping companies establish their own blockchain applications. Facebook CEO Mark Zuckerberg is paying close attention to cryptocurrencies. , Encryption and other decentralized calculation methods.
A group of start-up companies are trying to use digital books to challenge Google's online advantages. A startup white paper shows that Brave is a web browser that wants to adjust Google's Chrome. Brave does not use targeted advertising, but uses blocks. Chain technology allows people to pay for browsing websites. BitClave allows people to search the web and get paid for by watching advertisements. Presearch is also trying to use the blockchain to compete with Google search engines.
'You will see a lot of R&D power investing in it, incredible,' said Jeff Richards, managing partner of venture capital firm Jon Source Capital. 'Everyone learns through the internet and on their mobile phones. . '