Google Developing Own Blockchain Tech, Insiders Say


Google, the search engine giant now operating under parent company Alphabet, is creating a blockchain‐based technology to boost its cloud business, Bloomberg reports, citing unidentified sources with knowledge of the matter. The company will make the technology available to third parties that can use it for transactions, according to the sources. This would help Google stay one step ahead of rivals in the cloud services market.

Last year, Google was one of the largest investors in blockchain startups, according to estimates by research firm CB Insights. One person familiar with the matter revealed that the tech giant continued to invest in startups working with distributed ledger technology (DLT), adding that many partnerships have yet to be announced.

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