Google launches department of blockchain
The U.S. IT giant has created a new division in its Labs group. It will focus on the blockchain creation, as well as other technologies based on the decentralization of computing and information storage.
According to Bloomberg, Google is extremely cautious about any technology related to cryptocurrencies. However, Bill Ready, Google's president of commerce, said that greater attention will now be paid to this sector. The new division will be focused on experimentation rather than creating any specific product. That is why, this direction will be under the Labs group, bringing together all the potentially promising projects in the technology sector, including AR, VR, etc.
Recall that Google's attitude towards cryptocurrencies has been quite equivocal. Previously, it banned all kinds of advertising for cryptocurrency projects, including initial coin offerings (ICOs), cryptocurrency exchanges, and analyst advice. However, it later partnered with Coinbase and Bitpay, two cryptocurrency exchanges, allowing customers to store digital money on digital cards. However, Google still does not accept cryptocurrency transactions.