Google is planning to adopt blockchain

According to Bloomberg, speaking to people familiar with the matter, Alphabet’s Google is looking at way that it can actively use blockchain as a way of differentiating its cloud computing business against its competitors such as Amazon’s AWS service.

The project will also see Google looking to get ahead of emerging startups that are specializing in the technology, in the aim of becoming a key player in one of the world’s fastest growing technology markets.

See also:

• IBM and Apple sign new mobile-centric AI partnership

• Allianz: Blockchain is crucial, Bitcoin is conceptual

• Microsoft to expand cloud services in Europe, Middle East

According to data from CBInsights, Google has already taken a keen interest in the technology, having been the second most active investor in blockchain between 2012-2017, second to Japan’s SBI Holdings.

Six key investments can be noted during this time, including investments into the Blockchain company itself, alongside Ripple, LedgerX, Buttercoin, Veem and Storj Labs.

Despite the speculation, any new product releases remain uncertain, both in when they will be released, what they will actually involve, and whether any new blockchain product releases will actually come to fruition.

“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 company spokesperson said, speaking to Bloomberg.