Google planning blockchain-like system for the Cloud

May 01, 2018, 7:22 AM EDT
(Source: Toshiyuki IMAI/flickr)
(Source: Toshiyuki IMAI/flickr)

The ties between blockchain and Google date back to the days when the technology wasn’t a buzzword. Following years of investment and dozens of acquisitions of blockchain startups, Google now plans a new blockchain-like ledger system to support its cloud business.

The rise of blockchain comes as a mix bag for Google wherein the internet giant has opportunity to leverage technology for secure storage of user data while also facing a growing competition from startups empowered by blockchain, notes Digital Trends.

Google is reportedly considering releasing a white-label version of its blockchain system, which will allow third parties that would be able to offer the same system to their customers under their own brand while paying Google for the same, writes Futurism.