Google is developing blockchain-related technology to support its cloud business and lead the online industry to some new opportunities, according to a Bloomberg report. With this new development, the Alphabet division is also looking to compete with the emerging startups that rely on the heavily-hyped technology to operate online in new ways.
The report further reveals that Google has been acquiring and investing in startups with digital ledger expertise, adding that Alphabet was a leading corporate investor in the field last year. “Like many new technologies, we have individuals in various teams exploring potential uses of blockchain but it’s way too early for us to speculate about any possible uses or plans,” a Google spokesman has been quoted by Bloomberg.
Google started a trial for developers to test blockchain services on its cloud back in 2016 and the company is now exploring more ways to build on the platform.