Google is setting up a new business unit to focus on areas such as blockchain and digital currency payment


Tencent technology news on January 20, according to foreign media reports, Google is building a blockchain and related technology team led by a newly appointed senior executive.
It is reported that shivakumar Venkataraman, Google’s vice president of engineering, is currently operating a department focusing on “blockchain and other next-generation distributed computing and data storage technologies”.
An internal e-mail said the executive would become the “Founding leader” of the new department. In Google’s business planning, this will be a new business unit in which Google will carry out various virtual and augmented reality work. However, a Google spokesman declined to comment on the news.
So far, Google has provided some cloud services for companies engaged in blockchain technology. But in addition, Google has not invested a lot of resources to expand business in blockchain and other related fields like competitors such as meta or twitter.
However, Google’s attitude seems to have changed recently.
On the same day, it was reported that Google was restructuring its payment business. A few months after stopping the establishment of services similar to Digital Banking, they appointed former executives of PayPal to form a new department and formulated a new business development route.
Bill Reddy, President of Google commerce, said in an interview with foreign media that Google hopes to expand the application scope of its payment business to meet the needs of more consumers.
In the interview, Bill Reddy mentioned Google’s connection with cryptocurrency and emphasized Google’s relationship with blockchain companies coinbase and bitpay. Last year, the two companies announced that their customers can connect their cryptocurrency debit cards to Google payment applications, and more such application scenarios will appear in the future.
“Cryptocurrency is something we are very concerned about,” bill Reddy said. “With the development of user needs and business needs, we will also change.”