Google will Create its Own Blockchain in the Future: Report

Google has been watching startups going ahead of the company by using blockchain projects, but currently, it has decided to take a critical step. Citing reliable sources, Bloomberg has reported that Google is working to build its blockchain and later provide transactional and cloud services through it.

“The Alphabet Inc. unit is creating its distributed digital ledger that will be used by third parties to post and authenticate transactions,” One of the sources said. Google cloud platform provides different products in computing, networking, storage and other tools. While the organization promises multiple factor authentication and security through Identity-Aware Proxy, centralized computing network is already a risk to its users. Hence, utilizing decentralized technology will further reinforce Google’s secure infrastructure.

Google has put resources in blockchain startups including LedgerX, Veem, Sorj Labs, Ripple, Blockchain, and Buttercoin. It is ranked second in CBI Insights, the most active corporate blockchain investors’ list. Nevertheless, the company will not disclose details regarding the new concept soon. “Similar to other new technologies, we have people in different teams exploring potential applications of the blockchain, but it’s too early to speculate any possible plans or uses”, said Google spokesman.

People near Google explained that the company was exploring new ways of using blockchain online. That leads to several application cases which have been adopted by numerous startups and other businesses. Google’s browser Chrome and the Internet of Things (IoT) is outrun by blockchain startup Brave and Alibaba, the Chinese e-commerce company. Recently, Alibaba signed a deal to launch IoT blockchain services with an IoT research institute.

Brave is the web browser which is built on the Ethereum blockchain and links readers, publishers and advertisers using Basic Attention Token (BAT) tokens. Indeed, the platform which is built by Brendan Eich, Mozilla’s former CEO raised $35 million in 30 seconds. If Google has the plan to better the browsing experience of its users, thus, it’s not clear how it will handle the issue of retargeting. Retargeting is what makes you keep seeing adverts that remind you of the purchases you didn’t make or sites you visited recently. Despite launching a built-in ad blocker, the issue of advertising ploy mentioned above was not solved. Conversely, Brave assures users to keep their anonymity by allowing approved ads and blocking tracking cookies. Users can choose to get paid by permitting ads via BAT tokens.

Last week, Google banned digital currency-related ads claiming they were being used for harmful practices. “We’ve witnessed enough users harm or likelihood of consumer harm, and that’s an area we would like to approach with great caution,” Scott Spencer, Google’s sustainable ads director said.