Google has finally announced that it is fully entering the realm of Web3. Its cloud unit has formed a team to oversee the company’s plans. The techno giant has said that the team would be focused on Web3, blockchain, and cryptocurrencies.
Alphabet, Google’s parent company is the third company after Apple and Microsoft to cross the trillion-dollar valuation mark and is well on its way to the two trillion mark. It aims to leverage its funds to take advantage of the booming Web3 and crypto space.
Google Cloud Web3 Group Designed To Capitalize On The Flourishing Popularity Of Cryptocurrencies And Blockchain
The web3-focused team is being formed around cryptocurrencies, web3, and blockchain. Vice President Amit Zavery of Google Cloud has mailed employees informing them that the plan was to make Google’s Cloud Platform the choice for crypto and Web3 developers.
Zavery wrote that even as the web world is yet to fully embrace Web3, the market is already displaying strong potential. He said that customers are asking for increased support for crypto and Web3-related technologies.
Web3 has cryptocurrencies as the main transaction source and is poised to be the internet’s decentralized version.
The Web3 creation would grow up to stand as a strong challenge to the internet that is controlled by colossuses such as Meta Platforms, and Amazon.
The massive company also plans to enter the banned services sector for creators who are at work on the subsequent phase of the internet. It appears that the company is set to go the whole hog when it comes to crypto technology.
Amit Zavery clarified that it was not planning to be directly a part of the cryptocurrency wave. Instead, Google aims to provide technological support for companies that they can gain from the current enterprises and businesses, given the distributed character of Web3.