Google Corp. is developing its own solution based on blockchain technology, which it intends to offer to companies for implementation in cloud services - it is about securing the storage of client data, reports Bloomberg. Innovations will help Google stand out from the competition.
In addition, one of the divisions of Google develops its own distributed registry, which third-party companies can use to send and verify transactions. The launch date for products and other details are still being reported.
The Internet giant also actively buys and invests in start-ups in this area, most often without publicizing its actions. However, according to CB Insights, Alphabet was the leading corporate investor last year - the Google division outperformed Citigroup and Goldman Sachs Group.
"We have formed different teams that are working on different projects and are exploring the potential for using blockchain, but it is too early to talk about specific applications of this technology or our plans in this area," the Google representative explained.