Google is forming a group dedicated to blockchain and related technologies under a newly appointed executive who has spent more than a decade on the company’s core business of search advertising, reports Bloomberg.
An engineering vice president for Alphabet Inc.’s Google, Shivakumar Venkataraman, is now running a unit focused on “blockchain and other next-gen distributed computing and data storage technologies,” according to an email viewed by Bloomberg News. The executive will become a “founding leader” of Labs, a business division in which Google houses its various virtual and augmented reality efforts, according to the email.
To date, Google has offered some cloud services to companies working on blockchain technology, says Bloomberg, but otherwise, the company famous for its experimentation, has not launched public projects in the area where some rivals, such as Meta Platforms Inc. and Twitter Inc., have devoted considerable resources. Google’s payments and commerce president, however, recently said the company pays “a lot of attention to crypto.”