The new Google Web3 group has been formed by the search engine giant's cloud team. They decided to do this to take advantage of the rising crypto industry.
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In this photo illustration, an image of the Google logo is reflected on the eye of a young man on August 09, 2017 in London, England. Founded in 1995 by Sergey Brin and Larry Page, Google now makes hundreds of products used by billions of people across the globe, from YouTube and Android to Smartbox and Google Search.
But, Google clarified that they are not trying to enter the cryptocurrency market. Instead, they want to offer tools that can help businesses make their own Web3 software models.
"While the world is still early in its embrace of Web3, it is a market that is already demonstrating tremendous potential with many customers asking us to increase our support for Web3 and Crypto-related technologies," said Google Cloud Vice President Amit Zavery via CNBC.
New Google Web3 Team Arrives!
Zavery clarified that the new Web3 team was not formed to bring Google into the rising crypto market. Instead, this new group's main goal is to provide new technologies that can help companies further benefit from the new Web3 innovations.
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A woman works on her computer as on the wall behind is seen the logo of web search engine Google at Frankfurt's international book fair, on 23 October 2005, the fair's last day. South Korea is the guest of honour at the 57th annual Frankfurt Book Fair and has brought out 62 authors to Germany to introduce them to the western public.
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When it comes to actual services, the new Google Web3 plans to offer back-end services that can help developers design their decentralized blockchain-based systems.
The new group is also expected to allow Google to compete against Microsoft, Amazon, and Alibaba more efficiently. As of writing, the group is still being finalized, with James Tromans, a former Citigroup executive, leading the new Web3 group.
Google's new Web3 group plans to recruit Web3 experts who can work on blockchain data systems, computing environment-based tools, and other innovations that can enhance companies' Web3 software models.
What is Web3?
The New York Times explained that Web3 is expected to replace the traditional internet service. It is an online system that relies on decentralized blockchains.
However, this technology is still currently unavailable since its development and implementation are quite complicated. Packy MrCormick, a popular Web3 investor, explained that this internet version is "orchestrated with tokens."
If you want to see more details about Web3, you can visit this link.
Meanwhile, Google's passwordless sign-in option will soon arrive.
On the other hand, a new Google user info policy was recently unveiled.
For more news updates about Google and its other plans with its new Web3 group, always keep your tabs open here at TechTimes.
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Written by: Griffin Davis
