Google will Produce its Blockchain in the Future: Report

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Google has been watching startups get ahead of the company with different blockchain projects, but today it's decided to take a major step.

Citing credible resources, Bloomberg is reporting that Google is planning to create its own blockchain and extend cloud and transactional services through it.

Google cloud platform provides various products in computing, storage, media and other tools. While the company promises security through Identity-Aware Proxy and multiple factor authentication, centralized computing network still poses a threat to its users.  

Google has spent in blockchain startups such as Sorj Labs, Blockchain, Ripple, LedgerX, Buttercoin and Veem. It ranked second in CBI Insights «Most active corporate blockchain investors» list. However, the business will not be disclosing details concerning the new concept anytime soon. A Google spokesman explained, «Like many new technologies, we have individuals in a variety of teams exploring potential uses of blockchain but it's way too premature for us to speculate about any possible uses or plans.»

Individuals close to Google clarified that it was searching for new ways to use blockchain online. This leads to many use cases that have already been embraced by startups and other businesses. Google's Internet of Things (IoT) browser and tools Chrome has been outrun by Chinese e-commerce company Alibaba and blockchain startup Brave.

Brave is a web browser built on the Ethereum blockchain which connects advertisers, publishers and subscribers using Basic Attention Token (BAT) tokens. In actuality, the stage, built by Mozilla's former CEO Brendan Eich, raised $35 million under 30 seconds. If Google intends to make the browsing experience better for consumers, it's uncertain how it will tackle the problem of retargeting. Retargeting is the reason you keep seeing ads that remind you of purchases you did not make or sites you recently visited. Although it launched a built-in ad blocker, it didn't fix the issue of the advertising tactic mentioned above. On the other hand, Brave promises users to keep their anonymity by blocking Tracking Cookies and just allowing advertisements it approves. Users have the option of getting paid for enabling advertisements via BAT tokens.

Last week, Google banned cryptocurrency-related advertisements since it had been used for harmful actions. «We've seen enough customer harm or potential for consumer harm that it's an area that we want to approach with extreme care,» said Scott Spencer, Google's sustainable marketing manager.