Yes, you read it right. Google is trying to inch closer to crypto. As part of its Labs department, Google, one of the world’s largest software businesses, is apparently developing a new blockchain section. Shivakumar Venkataraman, a Google engineering vice president, will lead the blockchain division. According to an email received by Bloomberg, the division will work on “blockchain and other next-gen distributed computing and data storage technologies.”
While the corporation has been involved in several blockchain projects, it has avoided being linked to any cryptocurrency in particular. Under the Labs group’s umbrella, the new blockchain branch will focus on experimenting with these decentralised technologies. Labs is an experimental branch that houses all the AR and VR work, as well as other future innovation ventures. Area 120, a Google Labs in-house incubator for initiatives, is also part of the new Google Labs group.
Some observers perceive this move as a response to how other companies, such as Meta (previously Facebook), are expanding their business models to embrace more of these new advances.
That’s all new from Google for now. Wrap!
