Key Takeaways:
- Alphabet, the parent company of Google enters blockchain.
- Shivakumar Venkataram will lead the group.
- Google is now paying attention to the crypto world.
Google is now operating a group exclusive for the blockchain and related technologies under the supervision of newly appointed executive Shivakumar Venkataraman. He has been serving the company for its core search advertising business for more than a decade.
According to an email they received, Bloomberg published news stating the engineering vice president, Shivakumar, is currently running a unit dedicated to “blockchain and other next-generation distributed computing and data storage technologies.” for Alphabet Inc’s Google. The email mentioned that he would be the “founding leader” of Labs, a business division of Google, home to its various virtual and augmented reality endeavours. A representative of the company refused to make any comment on this.
Google has only been providing some cloud administration to organisations working on blockchain technology. But it hasn’t yet experimented in this field by launching a public project. Whereas Google’s rival companies – Meta Platforms Inc and Twitter Inc, have invested significant resources in the area.
It has come to light that the company is paying “a lot of attention to crypto”, as stated by Google’s payments and commerce president. However, the team functioning on blockchain in the company is comparatively smaller than those working on other products of Google.
Google has set groups to work on the company’s virtual reality hardware and software efforts into Labs the previous fall. Clay Bavor, a vice president, is looking over this project and managing Google’s start-up incubator. Google describes that his work is currently focused on “long-term technology projects that are in direct support of our core products and businesses.”
