Google’s Cloud division is forming a team to build services for developers focused on blockchain applications. CNBC reports, citing Google Cloud vice president Amit Zavery.
“As the world is only just beginning to master Web 3.0, this market already shows enormous potential; many clients are asking us to increase support for the sector and for technologies related to cryptocurrencies,” he wrote in a letter to staff.
According to Zavery, Google plans to offer enterprise backend services that provide access to distributed ledger technology. At the same time, the company does not want “to be part of the cryptocurrency wave directly.”
He explained that Google will develop a system to simplify the process of creating and launching blockchain nodes for validating and recording transactions. Zavery added that this tool can be used in third-party computing environments such as Amazon Web Services.
In January 2022, Google hired former PayPal chief executive Arnold Goldberg to relaunch the payments division. The appointment is part of a broader strategy to align with a range of financial services, including those focused on cryptocurrencies.