Google Cloud Compares Blockchain to Open Source Internet


block chain The technology is gaining more attention as interest in cryptocurrency reaches a critical point. Google Cloud has been involved with block chain by creating a Digital Assets Team. The team will focus on blockchain technology, which they believe will eventually become as common as the internet and open source.

The growth of the blockchain

Blockchain technology is relatively new. And some people think it’s too early to compare it to developments like the Internet and open source. Furthermore, critics say that blockchain is not easy to understand and that most people do not even know that it exists.

However, Google believes that blockchain is here to stay. As long as there is interest in cryptocurrencies, the blockchain will play a role. The company also claims that Microsoft Azure and Amazon Web Services have made use of blockchain technology.

Google capabilities and cryptocurrencies

Google plans to eventually allow cloud customers to receive and make payments using cryptocurrencies. Several companies now accept digital currency as payment, including AT&T. Dealing with cryptocurrencies is currently the most popular use of blockchain.

However, Google’s interest in blockchain comes as a surprise to some. Especially since Microsoft ended its Azure Blockchain service. Microsoft abruptly terminated the service without notice.

It is assumed that Microsoft ended the service because it was not profitable. However, Google is betting that its service will be a success. The company believes that blockchain technology will play a role in the future. And that it has tremendous potential to create valuable and innovative opportunities for businesses and consumers.

Google also claims that as Blockchain enters the mainstream, more businesses will see its value. And those companies will need a secure, reliable and scalable infrastructure to handle the change. The company plans for Google Cloud to play a role in the widespread adoption of blockchain technology.

Google Digital Assets Team It will help clients deal with various aspects of blockchain-based platforms. The team plans to help with short and long term goals such as:

  1. Taking place on chain governance and node validation with select Google Cloud partners.
  2. Creating a clean environment for blockchain. The plan is to help users and developers use blockchain in a way that supports Google’s social, environmental, and governance efforts.
  3. Host BigQuery datasets publicly on Google’s Marketplace. The datasets possibly include full blockchain transaction records for big cryptocurrencies like BitcoinEthereum, Litecoin, Dogecoin and Hedera.
  4. Google believes that digital assets are already changing the way the world handles information. Digital assets offer a whole new way to store and move information. It is also changing what people value. Like the rise of digital art in the form of NFTs, often selling for thousands of dollars.

Google Cloud wants to be part of this current evolution with decentralized networks and blockchain technology. No one is sure what the future holds for cryptocurrencies, blockchain technology, or decentralized networks. But companies like Google, Amazon and others are getting involved in what will possibly change the world.