Is Google serious about blockchain technology and making a full-scale entry into cryptocurrencies?
While competitors such as Meta and Twitter are investing heavily in cryptocurrencies and Metaverse, Google, which has not made a noticeable move so far, is launching a new department specializing in blockchain technology overseas. It was revealed by the media report of Bloomberg.
Google Forms Blockchain Group Under Newly Appointed Executive --Bloomberg
Google (GOOG) Hires PayPal (PYPL) Vet to Reset Strategy After Banking Retreat --Bloomberg
https://www.bloomberg.com/news/articles/2022-01-19/google-hires-paypal-vet-to-reset-strategy-after-banking-retreat
Google Hires PayPal Veteran as Part of Crypto Push
https://www.coindesk.com/business/2022/01/19/google-hires-paypal-veteran-as-part-of-crypto-push-report/
Google Creates Blockchain Unit, Hires New'Founding Leader' --Blockworks
https://blockworks.co/google-creates-blockchain-unit-hires-new-founding-leader/
Bloomberg announced on January 20, 2022 that 'Shivakumar Venkataraman, a longtime Google search and advertising business, will create a new division focused on'blockchain and next-generation distributed computing and data storage technologies.' It became clear that he would be in charge. '
A Google internal email received by Bloomberg also stated that Venkataraman would be the founding leader of Labs, a division that engages in a variety of virtual reality (VR) and augmented reality (AR) initiatives. That. Venkataraman, a veteran of Google's advertising business, is also a bright figure in the blockchain space, having previously published research on distributed computing technology.
Bloomberg also reported on the same day that Google has hired former PayPal executive Arnold Goldberg as head of payments. Goldberg said he was also the Chief Product Architect and General Manager at PayPal and was at the core of PayPal's payments and financial services business.
'Goldberg's appointment is part of a broader strategy to partner with a wider range of financial services, including cryptocurrencies,' said Bill Lady, Google's president of commerce and former PayPal employee. I am saying. Google abandoned the banking service 'Plex' in 2021, and this move is expected to be a stepping stone to the financial sector to replace Plex.
'Cryptocurrencies are an area of great interest to us, and we will evolve as user demands and commerce demands evolve,' Lady told Bloomberg. It hinted at the approach to virtual currency.
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