Blockchain, the technology that supports the cryptocurrency industry, has emerged as an interesting field of knowledge in recent years, say several researchers. In an attempt to increase research work in the Blockchain sector, Google Labs has appointed a new team to focus on the promising technology. Google Labs is an incubator that tests and develops developments and projects of new technologies, controlled by the search engine giant. Shivakumar Venkataraman, the company’s vice president of engineering, was chosen to lead this new group.
The blockchain-focused team at Google Labs is smaller compared to other Google research areas and products.
The main task assigned to the members of this group is to work around next generation technologies in the categories of distributed computing and data storage, Bloomberg he said.
Blockchain technology is basically an extensive list of records called “blocks” that are interconnected by “cryptography”, or complex codes and algorithms.
On Blockchain, information can be stored on the shared system where everyone can see it but cannot modify it. report by Tech4Fresher explains.
Earlier this month, Bill Ready, president of commerce at Google supposedly said the company will evolve along with the demands of users and merchants.
So far, Google has not revealed any plans to list cryptocurrencies as payment options for its services.
Augmented Reality (AR) is another field of technology that Google is paying attention to.
In November 2021, the company created a special research team to work on high-potential, long-term areas such as AR.