Google forms a team focused on Web 3.0
According to a new report from CNBC, the third US tech company to become a trillion-dollar company, Google aims to capitalize on the booming crypto and Web 3.0 space. The company’s cloud unit forms a team focused on Web 3.0. A Google Cloud VP, Amit Zavery, sent an email to employees in which he said the idea was to make Google Cloud Platform the first choice for developers in the Web 3.0 and crypto world. .
“While the world is still in the early stages of its adoption of Web3, this is a market that is already demonstrating huge potential with many customers asking us to increase our support for Web3 and crypto-related technologies,” Zavery wrote in the email according to CNBC.
Web 3.0 is the decentralized version of the Internet where cryptocurrencies are the main source of transactions. The creation of Web 3.0 poses a challenge to the current model of the Internet completely controlled by giants like Amazon, Google and Meta Platforms.
Google Cloud aims to provide backend services to developers working to create the “next generation of the Internet”. It looks like the company is planning to go knee deep in the world of digital assets as Kripteu Magazine has witnessed the tech giant’s partnership with Bakkt aimed at launching digital assets to consumers.
“We’re not trying to be a direct part of this wave of cryptocurrency,” Zavery told CNBC. “We provide technologies for companies to use and leverage the distributed nature of Web3 in their current businesses and businesses.”