Google is exploring blockchain and other Web3 technologies, according to Sundar Pichai, CEO of Alphabet and Google.
Pichai, answering a question on Web3 during the company’s Q4 earnings call on Tuesday said, “On Web3, we are definitely looking at blockchain and such an interesting and powerful technology with broad applications, so much broader again than any one application.”
“So as a company, we are looking at how we might contribute to the ecosystem and add value,” he said.
Pichai further added that the company’s Cloud team is currently exploring how they can support customers’ needs in “building, transacting, storing value and deploying new products on blockchain-based platform.”
“So we’ll definitely be watching the space closely and supporting it where we can. Overall, I think technology will continue to evolve and innovate, and we want to be pro-innovation and approach it that way,” he said.
Pichai further added that Google has benefited “tremendously” from open-source technologies and outlined “several areas of interest,” such as augmented reality.
“AR is a big one at the computing layer. We’ve been investing there for a long time and will continue to play a role. And it’s something both not just at the computing layer, the services layer, be it Maps, YouTube, Google Meet, etc. I think, will contribute a lot,” he said.
Tech majors including Meta and Twitter have also been exploring various Web3 technologies for payments, coins or other services such as non-fungible tokens.
NFTs
Google-owned YouTube is also exploring ways in which its creators can capitalise on nonfungible tokens (NFTs), a letter from YouTube CEO Susan Wojcick suggested last month.
“We’re also looking further ahead to the future and have been following everything happening in Web3 as a source of inspiration to continue innovating on YouTube. The past year in the world of crypto, and even decentralised autonomous organisations (DAOs) has highlighted a previously unimaginable opportunity to grow the connection between creators and their fans,” Wojcick wrote, outlining the platform’s priorities this year.
*We’re always focused on expanding the YouTube ecosystem to help creators capitalise on emerging technologies, including things like NFTs, while continuing to strengthen and enhance the experiences creators and fans have on YouTube,” the letter further read.