Google has been recently working on incorporating of blockchain tech. Company officials claim that all projects are still under preparation. That’s why no official statement has been released.
The use of blockchain is in its pre-implementation stages.
The rapid growth in the popularity of encrypted ledger provides the tech giant with many opportunities. This may be a variation of blockchain or some cloud solutions on its base. Such innovation allows the leader of search engine systems to strengthen its position and withstand competition.
Google is going to invest money in promising blockchain-based startups. Blockchain helps to make the user data storage better protected. It helps to create distributed register for money transfer.
At the same time, there are some challenges. Thus, the development of new tech related to cryptocurrency makes it easier for different companies to compete with Google.
According to Sridhar Ramaswamy, Google’s senior vice president of ads and commerce, blockchain has a great advantage as a unique system to transfer money. It is a breakthrough for modern society. This tech can change the existing approaches to business and the way of making transactions.
Google’s representatives say also that blockchain can revolutionize the digital advertising world with its ability to eliminate fraud, add trust and transparency to the market relationships.
Ad company Truth made a proclamation that it had run a programmatic media campaign based on blockchain where they cooperated with the demand-side platform Avocet and the Guardian newspaper.
Both publishers and advertisers will benefit from this technology. Thus, advertisers will be able to verify the right places for their commercials within a day. It usually takes more time without blockchain implementation.
The decentralized encrypted chain provides more wonderful opportunities for recording, data storage, search engine systems.
Experts from Google work on blockchain-based solutions but they are not ready to make big announcements. All these projects are in the think tank stage. It is not, therefore, a matter of clear planning or variants of blockchain use.
When discussing the future of blockchain tech, it is necessary to take into account various speculations about cryptocurrency theme. The ban on crypto advertising from Google and Facebook has recently been hotly debated. Many specialists agree that this is a quite defensible step since it helps to fight numerous scammers. Such measures will only help to develop blockchain tech without fraud.
This tech is very promising as a recording system and as money transfer. According to a record by CNBC in October, Google and Goldman Sachs are going to invest in blockchain companies.
Alphabet, Google’s parent firm is also pouring money into startups that actively use blockchain-based solutions.
The blockchain is a know-how that will transform digital marketing industry, insurance, medicine, finance, and other businesses. Although there are still many challenges, entrepreneurs are adopting this tech successfully.