While every industry is looking to understand Blockchain and its underlying potentials, one name remained silent on the topic. Earlier, whether Google was skeptical or there was any other reason, we haven't heard a word from the giant company about its take on Blockchain technology. However, now two new, different reports shed light on how the giant company, and its parent company Alphabet Inc., are looking forward to blockchain-based projects. Read on to know how Google explores blockchain.
According to reports by Bloomberg, Google is researching some blockchain-based technology to help support its cloud services in a way that can fend off the raft of sprouting start-ups eyeing to operate digitally in new ways.
Utilizing digital ledgers to safely record transactions and process data online is one of the potential use cases that seem fine to Google. The company could leverage the technology to provide its users with the assurance that consumer data is safe and protected across its network.
Reports by Bloomberg indicate that Google is creating a DL (distributed ledger) that third parties could make use of to verify transactions, though, this will be available to cloud customers. Also, there would be a white-label (ready-to-build) version, which other companies can execute on their servers.
A few unnamed sources also revealed that the company has come to acknowledge its cloud services as the best place to adopt this technology. The company tested the use of Blockchain on its cloud in 2016.
In other Google and blockchain-related news, a patent application published on 22 March reveals that the company may extend its research and look for opportunities to use this technology for audit information.
The filling discusses the use of Blockchain technology to develop a tamper-proof database for signatures, which can also validate that the information has not been modified. Furthermore, the system would be able to offer clear and simple oversight about the changes that were made to the information and why.
Their strategy is to use two blockchains. The first 'target blockchain' will incorporate the signatures while the second would be used to record and store data verified by the signature. These blockchains will be designed in a way that they can be stored in various multiple data storage spaces. Or could be stored on a single device. Indeed, while Google explores blockchain to know how it could benefit the masses, the approach in the development phase seems to be going in the right way. Now, we will have to wait and see when Google will officially announce its blockchain-based services. And would they prove to be as transforming as similar to Google's other services?