Google Joining the Blockchain Party
The tech giant, Google, is making movements in the blockchain space and looking to stay ahead of the competition with developments in its cloud systems. As another tech giant, Facebook, has come under huge scrutiny for its mishandling of private information, blockchain offers enhanced security of information on this distributed ledger platform, highly benefiting Google and users globally.
Google is working on its 3rd-party platform for companies to verify transactions, as well as a separate version that companies can use themselves independently of the Google cloud. Beyond this, there are other fields that Google will be exploring uses of blockchain, just as other companies have already found synergy in supply chain, and healthcare areas.
Investments in startups recently have increased Google's commitment to exploration and adoption of the new technology ahead of smaller competitors. However, there is still huge competition and investments from IBM and Microsoft in blockchain, totaling over 50%, and other players on the horizon such as Amazon.
Separately from cloud-based technology, marketing and search are also being enhanced with blockchain - - this time by smaller companies looking to disrupt the current model controlled by Google. New models are being implemented that leverage time spent on site, and rewards given to ad viewers.
Overall, companies from small to giant can't afford to wait on the sidelines when it comes to blockchain as they would risk losing out on its numerous benefits and potential applications. Google has a history of being able to adapt and flex with changes in technology, and its expected that it will do the same again with blockchain.
Read more: Bloomberg