Google’s Cloud Unit to Provide Technologies to Cryptocurrency Developers Building Web3 Applications 

The technology company is making an indirect entrance into the crypto space with the launch of a Web3 team. 

With the rising interest in Web 3 technologies, Google’s Cloud unit has disclosed that it is putting up a team that will build services for developers creating Web3 applications.

In an internal email as seen and published by media outlet CNBC, Amit Zavery, a vice president at Google Cloud, noted that the aim of the initiative is to make the Google Cloud platform the favorite choice for developers building different Web 3.0 applications.

“While the world is still early in its embrace of Web3, it is a market that is already demonstrating tremendous potential with many customers asking us to increase our support for Web3 and Crypto related technologies,” excerpts of the email shared by Zavery reads.

While several firms, including Facebook, are already making significant efforts toward becoming a major player in the Web 3.0 space, Google is hoping to stay ahead of the race by offering back-end services to developers seeking to build their own Web 3 applications.

Zavery noted that the move does not imply that Google is planning to gain direct involvement with cryptocurrencies. However, the company’s Cloud unit is only focused on providing the necessary technology that developers can adopt to benefit from the disruptive nature of Web3.

“We’re not trying to be part of that cryptocurrency wave directly. “We’re providing technologies for companies to use and take advantage of the distributed nature of Web3 in their current businesses and enterprises,” Zavery said.

Per the announcement, the new group will be led by James Tromans, a former Citigroup executive.