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Google is Experimenting with Blockchain Technology, which might Lead to Google Pay Accepting Cryptocurrency Payments

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It’s possible that Google is gearing up to use blockchain technology. A new unit has been set up by the corporation to look into the applicability of blockchain technology in several industry sectors Using this step, Google wants to further the development of distributed computing and data storage systems.

To pursue blockchain technology is neither crazy nor exclusive to the Googleplex. Companies in the IT sector are lined up to employ blockchain for a wide range of jobs. There has been some speculation about Google’s future goals in this area after an internal communication released by Bloomberg. There is a new blockchain section mentioned in the communication.

Google Pay has begun developing this unique function.

Google Pay is now accepting cryptocurrency payments: There is excellent news for Google Pay users. If all goes according to plan, you will soon be able to make payments on our site using cryptocurrency as a method of payment. As reported by the Wall Street Journal, Google is experimenting with Blockchain Technology. The corporation has set up a separate section specifically for this purpose. This team has also begun their work in this area as well. Google, on the other hand, has not provided any information regarding whether or not they are working on it. Please let us know what exactly is going on.

Google Lab will be working on the future of the internet.

This particular division has just lately been established by the company’s management. The Google Lab is the moniker given to this entity. This unit has been in operation for about a decade. Google Labs is a division of Google that focuses on new initiatives that the corporation brings to the table. Despite the fact that this new entity is distinct from the previous Google Lab. It will not be open to the public, as was the case with the last lab, but instead, operate as an internal group. According to the article, the entity would concentrate on ‘blockchain and other next-generation distributed computing and data storage technologies. Shivakumar Venkataraman, Engineering Vice President of Google, has been tasked with ‘Founding Leader’ for this new organization.

What is Google’s plan for the blockchain?

The email does not mention any specific Google product or service that will be subject to blockchain technology other than the phrase. We can only assume, at this moment, that blockchain will serve numerous functions at Google in the future, given the reach of the technology and the company’s extensive online presence. It’s anyone’s guess as to where it will all begin.

For a variety of interconnections, Google will have to accept blockchain even though this will not be a one-of-a-kind case. There are currently several payment gateways that accept cryptocurrency. As a result, it’s possible that Google is working on a new application. It may try to introduce its cryptocurrency to the world, similar to Meta and many other nations.

Conclusion

This is a considerably more ambitious goal than merely incorporating cryptographic technologies into its existing offerings. Google has made it known that it intends to work in this area, so a cryptocurrency from Google will not come as a complete surprise. Alternatively, the application may not revolve around cryptocurrencies various, but rather employ blockchain technology for a different purpose.

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