- Google Cloud plans to build more blockchain products and support Web3 startups.
- Google Cloud shows interest in artificial intelligence, gaming, and financial services.
- The tech giant plans to help customers to become transformational players in Web3.
Google Cloud’s Web3 Expansion
After the rollout of a Web3-focused startup program by Google, the tech giant is interested in dominating the crypto industry. In an attempt to make its computing offerings the first choice for Web3 developers and blockchain firms, Google Cloud plans to release more Web3-centered products.
The reason behind the initiative is not far-fetched. The crypto industry is one of the biggest markets, and for a tech giant like Google Cloud, exploring Web3 technologies, building Web3-focused products, and investing in Web3 startups show signs of expansion.
James Troman, Head of Google Cloud Web3, stated that the tech giant will continue to develop more products like Blockchain Node Engine. He also added that Google Cloud’s mission includes helping customers become transformational players in the Web3 ecosystem.
“With these fundamental capabilities, our startups move faster, focusing on their differentiated value propositions and avoid rebuilding foundational capabilities that are not unique to their business,” Tromans stated in an email.
He also added that Google Cloud will continue to offer on-chain data assets like Ethereum on BigQuery, Google’s serverless data warehouse.
While the Head of Google Cloud Web3 did not share specifics on new initiatives, he expressed the company’s enthusiasm for exploring artificial intelligence use cases in the Web3 industry.
He said, “AI is key to solving business and technology challenges, so we’re exploring use cases where AI and large language models can be uniquely applied in the Web3 space.”
Google Cloud is interested in financial services and the gaming sector. The tech giant is working with industry players to explore how blockchain technology can streamline operations and unlock revenue streams.
Google Cloud’s Influence in Web3
In May 2022, Google Cloud declared its interest to explore and build Web3-focused products. CNBC reported Google Cloud’s plans to venture into Web3 after the tech giant announced its interest to its workers in an internal email.
Unlike the Web2 companies that ventured to Web3 to launch non-fungible tokens, Google Cloud has upheld its promise to build products for Web3 users.
TechRadar reported last May that Google Cloud was forming a Web3-centered team aimed at developing services for developers interested in creating blockchain applications.
In October 2022, Google Cloud announced a long-term partnership with Coinbase, one of the biggest crypto exchanges in the industry.
The Google Cloud team also launched the Blockchain Node Engine in October. It was developed to aid Web3 developers in building on blockchain ecosystems like Solana and Ethereum.
In April 2023, Google launched a Web3 start-up program aimed at helping Web3 companies build secure blockchain applications.
The program participants build on Google’s serverless platform for free while being eligible to receive rewards like $200,000 in Google Cloud credit and technical support access.
Blockchain ecosystems like Aptos, Celo, Flow, NEAR, Hbar Foundation, and Solana Foundation collaborated with Google Cloud, each offering $1 million in grants for winning Web3 startups.
