In a tweet shared by the CEO of Binance on Wednesday, Google, the multinational technology company focusing on search engine technology, has agreed to a partnership with BNB Chain, a blockchain closely linked to Binance, the cryptocurrency exchange.
The partnership is looking to give a boost in supporting the growth of early-stage Web3 and blockchain startups, giving them the right tools to navigate the rough beginnings; data analysis on the chain, encryption of chain information through the cloud service – all these services will be made available to projects based on the smart chain. Along with these, about 150 projects under an accelerator program focused on BNB will get “accelerated access” to the startup support program hosted by Google Cloud.
Google’s Baby Steps: First Foray into Web3
Before June 2021, Google held a negative perspective on the crypto space and would not allow crypto ads on the platform. A review of the policy was made in June 2021, and the tech giant revealed that it would begin allowing “advertisers offering cryptocurrency exchanges and wallets targeting the United States” to “advertise those products and services when they meet the following requirements: are certified by Google.”
In a statement by Gwendolyn Regina, Investment Director, BNB Chain, “Google Cloud is an outstanding Web2 player and has done a lot of Web3 stuff. We need to work with big players who have big visions, and we share the same DNA and visions.”
It is worth mentioning that Google has already started assembling its team to build blockchain services in May 2022. The team was meant to “support Web3 and crypto-related technologies within its cloud service.”
Amit Zavery, Google Cloud’s Vice President, had briefed his team on the aim of the new service to build a platform that developers in the field would see as a first choice. He also mentioned that the next focus for Google Cloud should be on how a system that would ease blockchain access and create services to simplify the running and building of nodes for blockchain-based transactions could be made.
The Project Unfolds – Exploration and Timelines
Google had already begun exploring crypto as an option for payments at the beginning of the year, though it was yet to give full implementation to the idea. Google Cloud had also added the crypto mining malware threat detection service and launched its new dedicated Digital Assets Team earlier this year.
As to the new collaboration with BNB Chain, there is yet to be any word from the Google end. Timelines for achieving the set goals for the partnership are still being awaited, and we can only assume that everything is being put in place.
Conclusion
A new partnership between BNB Chain and Google Cloud has just been announced and is set to support the growth of early-stage Web3 and blockchain startups. Startup partnership members will also be granted Google Cloud credits for two years, which will be usable for all Google Cloud services.
This collaboration is coming just months after Google revealed the new team dedicated to providing Web3 infrastructure and looked to be Google’s first big foray into the crypto ecosystem. All eyes are tuned to the tech giant as it is yet to unveil its plans and timelines for the partnership.
