Global tech giant, Google has started a new blockchain-based division as part of its Labs group. The division will also deal with other distributed computing and data storage technologies as Bill Ready, Google’s president of commerce, stated on earlier in January they were paying a lot of attention to cryptocurrency.
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According to Bitcoin News, the new blockchain division will be directed to the experimentation with these decentralized technologies under the umbrella of the Labs group. Labs is an experimental division that groups all the AR and VR efforts, and other potential projects in the tech area. The new Google Labs group also includes an in-house incubator for projects called Area 120.
This development is seen by some analysts as a response to how other companies like Meta (formerly Facebook) are growing to include more of these new developments into their business model.
Google’s president of commerce, Bill Ready, commented on the vision that the company has on cryptocurrencies and their possible uses. At the time, Ready stated:
“Crypto is something we pay a lot of attention to. As user demand and merchant demand evolves, we’ll evolve with it.”
The company also announced recently it was hiring a former Paypal executive, Arnold Goldberg, as a part of a push to include new services in its platform, including cryptocurrencies.
