Google is reportedly setting up its own dedicated blockchain unit, in the first overt sign of the tech giant's interest in cryptocurrencies and their

Google is reportedly building a new blockchain division under a veteran search exec, finally signaling interest in Web3

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2022-01-20 13:30:07

Google is reportedly setting up its own dedicated blockchain unit, in the first overt sign of the tech giant's interest in cryptocurrencies and their underlying technologies.

The tech giant's new unit will focus on "blockchain and other next-gen distributed computing and data storage technologies", according to a leaked email obtained by Bloomberg.

Google has reportedly appointed Shivakumar Venkataraman to lead the new group, a veteran of the company who spent nearly two decades working on its core search ads business.

After a string of disappointments in virtual reality and social networking, Google appears to have been reticent to dive into cryptocurrency technologies, perhaps at least in part due to CEO Sundar Pichai's conservative leadership style.

Until last August, the company banned cryptocurrency companies from its advertising network and has resisted allowing people to use crypto to pay for its products and services.