In Brief:
- Alphabet CEO, Sundar Pichai revealed a stance of the company on Web 3 developments.
- The company is monitoring blockchain development to contribute to Web 3 applications.
- Google will also provide support to facilitate augmented reality-based projects.
CEO of the tech giant company Alphabet Sundar Pichai spoke on the Web3 developments revealing the company’s stance over revolutionary blockchain technology. He said that the company is closely monitoring developments and examining how Google’s parent company can contribute to the development of Web3.
Web3 is the next generation of the Internet that will enable users to secure their crucial data. Digital assets such as cryptocurrencies and NFTs will be the elements of Web3 development. To keep data open, blockchains will play a pivotal role. After observing the drastic revolution in blockchain technology and the potential future of web3, many tech firms took a dive in the last few months.
“Any time there is innovation, I find it exciting,” Pichai said on Tuesday in response to a question about the technology on Alphabet’s earnings call. “I think it’s something we want to support the best we can.”
To gain potential profits on Web3, investors divert their focus towards blockchain developments and put their money into new projects. Tech companies such as Block Inc., Meta Platforms Inc., and Twitter Inc. have already explored the blockchain space along with digital assets such as cryptocurrencies payments and digital art adoptions.
“We are definitely looking at blockchain,” Pichai added. “It’s such an interesting and powerful technology with broad applications.”
In an interview, he also talked about Google Cloud’s allocation of a new digital assets team to provide extra hands to emerging blockchain projects.
However, Pichai has avoided talking about cryptocurrencies.
Also, in the Phone Call conversation, Pichai mentioned Google’s investment in augmented and virtual reality projects. Google will provide adequate services for the virtual world’s users.
