Sundar Pichai, the CEO of Alphabet, spoke on the interest that his company has in the optimization of Google through Web 3.0 and blockchain.
Pichai made these remarks at Alphabet’s Q4 2021 Earnings Call on Tuesday, the 1st of February. In The Motley Fool transcript of what was said during the earnings call, Pichai replied to the Web 3.0 question asked by J.P. Morgan’s Internet Analyst Douglas Anmuth by confirming that they find the fact that technology is under constant innovation thrilling, and that these developments should be promoted to the best of their abilities. Given the ever-growing development of the web, companies should in turn develop with it. Seeing as Google has reaped the benefits of open-source technologies, the company is willing to give back in these revolutionary technologies as well.
Pichai went on to say “there’s several areas of interest. AR is a big one at the computing layer. We’ve been investing there for a long time, we will continue to play a role. And it’s something both — not just with the computing layer, but services layer, be it Maps, YouTube, Google Meet, etc., I think, will contribute a lot.”
Additionally, the CEO of Alphabet mentioned that “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. Just one example, our Cloud team is looking at how they can support our customers’ needs in building, transacting, storing value and deploying new products on blockchain-based platforms. So we’ll definitely be watching the space closely and supporting it where we can.“
CNBC reported back in January that a team has been developed by Google’s cloud division that will work on establishing business circling blockchain apps in order to optimize those apps for sectors such as healthcare and retail among others. The Head of Strategy for Digital Assets at Google, Richard Widmann confirmed for CNBC that this particular group will be recruiting quite a number of renowned blockchain experts.
Richard Wildmann also said that Google is weighing on the selection of services it can provide for blockchain developers. Moreover, he also said that there are measures they can take to alleviate some customers’ concerns about using cryptocurrencies as a payment method for services related to the centralized cloud.