Google Cloud Experimenting with Blockchains ($GOOG)

Google Cloud Experimenting with Blockchains ($GOOG)
Google Cloud Experimenting with Blockchains ($GOOG)
Google Cloud Experimenting with Blockchains ($GOOG) Business Insider

The internet giant straps back into experimenting but this time their focus is around blockchain technologoy. They already have several teams exploring uses for blockchain technology. It's unclear how Google will use the tech but it doesn't stop people from speculating their next steps. Google has the potential to develop their own blockchain from scratch, however to save on resources and time, the better option might be to use one that's already developed like Hyperledger

Becky Peterson from Business Insider notes:

Hyperledger has two different open-source blockchain systems — Fabric and Sawtooth — that it offers for enterprises to use for their projects.

Although a public cloud blockchain neccessarily removes the decentralized ideal (one of the biggest selling points for blockhains), it doesn't mean it couldn't happen. A blockchain can start in a public cloud, but can still be decentralized. Most likely Google will embrace a decentralized system and allow customers the possibility of setting up nodes for ther blockchain ledgers in other enviornments including AWS. 

The executive director of the open-source blockhain project Hyperledger Brian Behlendorf says,

Blockchains are designed to be decentralized, but one that's linked to a public-cloud service could actually make sense.

Customers already trust services from Amazon, Microsoft, and Google and if cloud services store information about your business already, chances are they will trsut to put a blockchain on it as well. This is already happening on AWS & Azure. Although they do not offer a blockchain themselves, their cloud services already host them.

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Read the source article at Business Insider

 


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