Alphabet Exploring Blockchain Technology for Main Products and Services
Alphabet, parent company of Google, is exploring how to integrate blockchain technology into its biggest products and services.
In its latest conference call, Alphabet CEO Sundar Pichai hinted that blockchain and augmented reality could be integrated into applications like YouTube or Google Maps.
"Any time there is innovation, I find it exciting, and I think it is something we want to support the best we can...The web has always evolved, and it’s going to continue to evolve, and as Google, we have benefited tremendously from open-source technologies, so we do plan to contribute there.
There’s several areas of interest. [Augmented reality] is a big one at the computing layer. We’ve been investing there for a long time and will continue to play a role… not just at the computing layer, [but] the services layer, Maps, Youtube, Google Meet etc. will contribute a lot…”
Regarding Web 3, Pichai says the tech leader is “definitely looking at blockchain and such as an interesting and powerful technology with broad implications, so much broader than any one application.”
“So as a company we are looking at how we might contribute to the ecosystem and add value,” he said.
“Just one example: Our cloud team is looking at how they can support our customer’s needs in building and transacting and storing value and deploying new products on blockchain-based platforms.”
The CEO said Alphabet will “definitely be watching the space” and supporting it when possible.
“Overall I think the technology will continue to evolve and innovate and we want to be pro-innovation and approach it that way.”
Pichai's optimism towards the world of blockchain come after fellow tech giant Microsoft made a big investment in the metaverse, and Google subsidiary YouTube hinted at integrating non-fungible tokens (NFTs).
"We’re always focused on expanding the YouTube ecosystem to help creators capitalize on emerging technologies, including things like NFTs, while continuing to strengthen and enhance the experiences creators and fans have on YouTube," Youtube CEO Susan Wojcicki said.
The company’s earnings exceeded analyst expectations, with fourth-quarter revenue of $75.33 billion, an increase of 32% from the same period a year prior. Profits rose by one-third.
“Technology will continue to evolve and innovate, and we want to be pro-innovation and approach it that way,” Pichai said.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.