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Google Cloud expands Web3 focus, eyes new products and partnerships

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TL;DR Breakdown

  • Google Cloud plans to launch more Web3-focused products and support Web3 startups.
  • The company is exploring Web3 technologies with financial services and gaming sectors.
  • Google Cloud’s Web3 startup program offers benefits like $200,000 in credits and technical support.

Description

Google Cloud plans to introduce more Web3-focused products to make its computing offerings the first choice for industry firms and developers. This move follows the recent launch of a startup program aimed at supporting players within the Web3 segment. The tech giant’s cloud computing services unit will continue to build services similar to its Blockchain … Read more

Google Cloud plans to introduce more Web3-focused products to make its computing offerings the first choice for industry firms and developers. This move follows the recent launch of a startup program aimed at supporting players within the Web3 segment. The tech giant’s cloud computing services unit will continue to build services similar to its Blockchain Node Engine, according to James Tromans, Google Cloud Web3 head. Helping customers become transformational players in the Web3 ecosystem is now a core part of the business’s mission.

While the executive did not detail any specific initiatives that might be in development, he mentioned that Google Cloud would continue to offer on-chain datasets such as Ethereum on BigQuery, Google’s serverless data warehouse. “With these fundamental capabilities, our startups move faster, focusing on their differentiated value propositions and avoid rebuilding foundational capabilities that are not unique to their business,” Tromans said.

Google Cloud’s collaborations: Exploring Web3 technologies with financial services and gaming

Google Cloud is actively working with players in the financial services and gaming sectors to explore how Web3 technologies can streamline their operations and unlock alternative business models and revenue streams. The company also focuses on artificial intelligence (AI), an area that some crypto companies are high on, while others are still evaluating the technology’s potential use cases within their business. “We fundamentally believe that AI is key to solving business and technology challenges, so we’re exploring use cases where AI and large language models can be uniquely applied in the Web3 space,” Tromans added.

Google’s growing embrace of crypto and Web3

Google created a division focused on blockchain and other next-gen distributed computing and data storage technologies in January 2022. In October, the company’s cloud unit launched its Blockchain Node Engine to help Web3 developers build and deploy new products on blockchain-based platforms. Ethereum was the first blockchain supported by the engine, with Solana set to follow.

In April, Google Cloud launched a Web3 startup program to assist companies in building faster and more secure Web3 applications. The program lets startups build on Google’s serverless platform for free and receive benefits like $200,000 in Google Cloud credits and access to technical support. Through the program, several organizations, including Aptos, Celo, Flow, HBAR Foundation, Near, and the Solana Foundation, were each set to offer $1 million worth of grants to accelerate Web3 startup growth.

In conclusion, Google Cloud’s strategic focus on Web3 and its efforts to support startups in this space represents a significant shift for the company. As Google Cloud continues to innovate and grow, it is poised to play a significant role in shaping the future of the global Web3 ecosystem. The company’s ambitious plans and recent initiatives suggest a promising future for Google Cloud as it continues to explore and expand in the rapidly evolving Web3 industry.

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