Google to Offer Blockchain-Based Fintech and Cloud Service

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Tel Aviv, Israel - June 9, 2018: Interior view of Google Office in Tel Aviv. Creative and entertaining environment was created for the team. The building is located on Ayalon Highway. Source: shutterstock.com

The entry of tech giants in the world of blockchains is nothing new, but when a stalwart like Google makes a foray into the market, it doesn’t just cause ripples — it causes high tides.

In an official blog post published on Monday, July 23, the granddaddy of all technology companies announced that it would be deploying blockchain technology to offer cloud solutions and fintech services to its clients.

No Internal Project as of Now

Contrary to what people may believe, Google hasn’t started this program using an internal blockchain department. Instead, it has partnered with two blockchain firms, BlockApps and Digital Asset. The two companies will be adding distributed ledger technology to the Google Cloud Platform (GCP). According to Google, it will help users “Explore ways [customers] might use distributed ledger technology frameworks.

Digital Asset supplies distributed ledger technology (DLT) software to fintech institutions. BlockApps, on the other hand, offers blockchain platforms that help in creating decentralized apps (dApps).

What Does Google Intend to Do?

Google is upping its ante with partners. Currently, it is working with Deloitte to help SAP integrate with the cloud. Moreover, it will be bringing updates to its work with Cisco, as well as innovative hybrid solutions on GCP and the Cisco Container Platform. These updates will be announced during the Google Cloud Next ’18 conference. Google also promises to give exciting news about this new collaboration.

Regarding new DLT solutions, Google announced:

“Customers can now explore ways they might use distributed ledger technology (DLT) frameworks on GCP with launch partners including Digital Asset and BlockApps and try open-source integrations for Hyperledger Fabric and Ethereum later this year in our GCP Marketplace.”

Blythe Masters, CEO of Digital Asset, said that the new solution designed with Google would help in reducing technical barriers in developing DLT applications.

Google now joins the ranks of IBM and Microsoft in creating blockchain solutions. Its cloud-based DLT could be in direct competition with Amazon Web Services (AWS), which has already launched a dApps blockchain platform in April 2018.

Google to Offer Blockchain-Based Fintech and Cloud Service was originally found on [blokt] – Blockchain, Bitcoin & Cryptocurrency News.