Google is developing a blockchain that will improve the security of storing transaction data and other information in cloud storage. It is still unknown when exactly the service will be launched, Bloomberg reports.
Sources familiar with the situation told the publication that the project is being handled by Alphabet Inc., Google's parent company.
In addition, the IT giant is preparing to develop its blockchain registry technology, with the help of which third-party companies will be able to conduct and verify transactions. Google has also entered into a number of contracts that will make it possible to further acquire and invest in blockchain startups.
It is quite obvious that Google is doing everything possible to stay in the market against the backdrop of ever-increasing competition from startup projects that use distributed data registry technology on their platforms..
The company began studying and testing such developments in the cloud back in 2016. At the moment, Google is researching all options for using blockchain technologies for its own services.
It is curious that the information became available to the media right now - on the wave of general dissatisfaction with the company’s policies related to digital currencies. Let us remind you that it recently became known that Google has decided to ban any advertising of cryptocurrencies starting in June of this year.
Is the company trying to retain indignant customers in this way? It is quite possible, because Google understands perfectly well that starting from June it will be able to lose a large part of them.
According to https://www.bloomberg.com
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