Search and tech large, Google, has mentioned it’s diving deeper into web3, as it launches a new blockchain division as a part of its Labs group.
The division might be led by Shivakumar Venkataraman, an engineering vice chairman for Google.
The division will concentrate on ‘blockchain and different next-gen distributed computing and knowledge storage applied sciences,’ in line with an electronic mail obtained by Bloomberg.
The brand new blockchain division might be devoted to the experimentation with these decentralized applied sciences below the umbrella of the Labs group.
Labs is an experimental division that teams all of the AR and VR efforts, and different potential tasks within the tech space. The brand new Google Labs group additionally consists of an in-house incubator for tasks known as Space 120.
Whereas the Search large has been coy in crypto, in latest months, it has grow to be extra open, a state of affairs which has been highlighted by the feedback from its Head of Commerce, Invoice Prepared.
“Crypto is one thing we pay numerous consideration to. As person demand and service provider demand evolves, we’ll evolve with it.” – VP, Commerce, Google
Aside from that, Google has accomplished a partnership with Coinbase and Bitpay exchanges which let’s customers store cryptocurrency in digital cards.
In 2021, the corporate inked a partnership with Bakkt, a digital platform, to permit customers to spend cryptocurrencies utilizing its card on the Google Play platform.