Google, the search engine and technology behemoth, has announced that it is expanding its web3 efforts by creating a new blockchain section under its Labs business. Shivakumar Venkataraman, an engineering vice president at Google, will head the division. According to an email acquired by Bloomberg, the division would concentrate on ‘blockchain and other next-gen distributed computing and data storage technologies’.
In order to experiment with these decentralized technologies, a new blockchain branch will be established within the Labs group. Virtual reality (VR) and augmented reality (AR) initiatives are housed under the Labs section of the company. Area 120, an in-house incubator for initiatives, is part of the new Google Labs department.
Bill Ready, the company’s head of commerce, has recently spoken out about the company’s interest in cryptocurrencies, a development that has been emphasized by his remarks. There is a lot of interest in cryptocurrencies here at the company.
“Adapting to the changing needs of our customers and merchants is something we will do.” — Google’s VP of Commerce The connection with Coinbase and Bitpay exchanges has also been finalized by Google, allowing clients to store cryptocurrencies on digital cards. Users will be able to use Bakkt’s card on the Google Play platform in 2021 thanks to a deal the firm signed with the digital platform.