Google Dips Toes Into Blockchain for Its Next Project

Out of all of the various forms of tech that people have been talking about recently, blockchain is perhaps the most visible as well as the most controversial to one extent or another. The thing about blockchain is that it is often spoken about in relation to bitcoin and other types of crypto currencies, but that is not the only thing that it can help accomplish if you think about it and many companies are exploring other uses for it.

Google has recently been trying to diversify the various things that it can research, with many of these areas falling under the domain of Google Labs. Much of what Google Labs does is consumer focused, but one of the latest projects that has been announced might not be oriented the same way since it is going to be all about Blockchain and how it can impact the future of tech as the years go by. The main purpose of this new project according to top Google exec Shivakumar Venkataraman is to explore various types of data storage, and blockchain is a really big part of that.

Decentralized data storage could be crucial in the future as Google continues to get bigger, especially if you factor in the fact that so many people feel like Google has too much of a monopoly which various forms of decentralization might help address to one extent or another. Venkataraman will be leading this project, and it will be interesting to see the impact that it can have. With bitcoin and other crypto prices plummeting recently, this might be something that could bolster investments for the asset class and help prevent it from continuing with the tailspin that it has been in of late. Whatever the case may be, with Google’s resources there is a chance that blockchain tech could finally reach its true potential.

H/T: Bloomberg.

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