Google to Boost CryptoVerse, Recent Partnerships Affirms So

    TheMorningCrypto Desk
    TheMorningCrypto Desk
    Published on November 4, 2022 2:32 PM

    Updated on January 9, 2023 12:50 PM

    James Tromans, a former Citigroup executive, will lead Google Cloud's new Web3 team. He is intended to bring experienced and visionary web 3.0 developers into the cloud space.
    Google to Boost CryptoVerse, Recent Partnerships Affirms So

    On May 6, Google Cloud revealed its Web 3.0 objectives to employees. "While the world is still early in its acceptance of Web3, it is a market that is already displaying significant promise, with many clients requesting us to improve our support for Web3 and Crypto related technologies," Google Cloud VP Amit Zavery stated.

    The idea is that the internet would become decentralized by shifting almost everything to blockchain technology, which is presently utilized mainly by cryptocurrencies. That's a tall objective, especially given how many of these decentralized systems are frauds, subject to theft, and generally fail to deliver on their promise of a better internet.

    That statement from Zavery nearly sounds like Google Cloud is thinking about creating a cryptocurrency or minting non-fungible tokens (NFTs) for its clients. But that's not the case. Google officials already told in an interview with CNBC that they will not focus solely on Cryptos; instead, they will make the blockchain a usable tool for users.

    Let's look into some recent Google Web3 Partnerships to get to the conclusion effectively.

    Google Partners With Coinbase 

    The recent partnership between Google cloud services and Coinbase is already pointing toward the baby steps the Tech Giant has taken.

    Recently, Coinbase, a cryptocurrency exchange, has partnered with Google Cloud for a project aimed at better serving Web3 developers. Coinbase selected Google Cloud as a strategic cloud supplier to develop enhanced exchange and data services. 

    According to the firm, it would utilize Google Cloud's computer platform to "handle blockchain data at scale" and "extend the worldwide reach of its crypto services by utilizing Google's premium fibre-optic network."

    Google Teams Up With BNB Chain

    BNB Chain, Binance's brilliant contract blockchain initiative, has recently announced a strategic partnership with Google Cloud to enhance the performance, scalability, and innovation of Web3 and blockchain businesses.

    The collaboration allows BNB Chain customers to leverage Google's cloud infrastructure, as well as its analytical capabilities and on-chain data encryption.

    Web3 builders in the BNB Chain ecosystem that meet specific criteria will be given priority access to the Google for Startups Cloud Program. Users may get Google Cloud credits for up to two years through the scheme.

    Additionally, builders will be linked to Google technical subject matter experts that specialize in AI, machine learning, and data analytics.

    Google Cloud Introduces Blockchain Node Engine

    Businesses such as SAP and IBM were striving to establish blockchain procedures at the time, but despite the technology's promise to address a wide range of business concerns, it stayed the same.

    Google just announced the release of a cloud-based node engine for Ethereum applications on Nov 2.

    Google Cloud Blockchain Node Engine, according to the company, will be a "fully managed node-hosting solution that can eliminate the demand for node operations," which implies Google will be in charge of monitoring node activity and restarting them when there are failures.

    Google's Approach Towards Blockchain Technology

    The partnerships, as mentioned earlier, are evidence that the tech Mammoth is inclining towards blockchain technologies more. It is clear till now that Google and other blockchain-associated firms are joining hands to enhance their services through Google cloud service.

    Google's remark demonstrates the growing importance big IT businesses place on the blockchain, cryptocurrency, and Web3 initiatives. According to Google, "Blockchain is revolutionizing the way the world stores and transfers information."