Google Cloud is expanding it’s blockchain business and hiring

February 10, 2022 Blockchain, Crypto, Digital Assets, Tokens, CBDCs, Metaverse, NFTs, Enterprise, FinTech and Alternative Finance, Fintech International, Innovation and Resources, Leadership, Productivity, Competition, Human Capital, Health No comments

CNBC | Jordan Novet | Jan 27, 2022

Google’s cloud division has formed a group to build business around blockchain applications, following efforts to grow in retail, health care and other industries.

With DeFi, banks and lawyers are replaced by a programmable piece of code called a smart contract. This contract is written on a public blockchain, like ethereum or solana, and it executes when certain conditions are met, negating the need for a central intermediary.

This idea of decentralized apps has become more popular among technologists who envision Web3, a decentralized version of the internet that breaks away from Web 2.0, which saw an explosion of user-generated content such as blogs and social networks. Some of those services eventually came to be owned by large internet players — including Google, which bought Blogger and YouTube (which is now one of its strongest businesses).

Google’s cloud marketplace already offers tools developers can tap to start building blockchain networks, and it has blockchain customers, including Dapper Labs, Hedera and Theta Labs, along with exchanges. Google also offers data sets that people can explore with the BigQuery service to view transaction history for bitcoin and other currencies.

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Now, Google is considering what types of services it can offer directly to developers in the blockchain space, Widmann said.

Smaller cloud providers are also aware of the opportunity.

“We have a lot of blockchain and crypto customers on the platform,” said Gabe Monroy, chief product officer at DigitalOcean, which focuses on small and midsize businesses. “It was one of our biggest cohort growth segments over 2021. We’re definitely paying close attention to the space.”

“This is kind of like our AWS for crypto,” Coinbase CEO Brian Armstrong said at the JPMorgan Crypto Economy Forum in November. “We’re trying to externalize some of the services that we’ve had to build. A lot of hard engineering has gone into how do we store crypto and integrate all the blockchains and monitor transactions for AML purposes and do trading and staking and all that.”

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