Google Is Working on its Own Blockchain Technology

American transnational corporation Google is engaged in the development of the blockchain technology for its cloud business. Third parties will be able to apply their own distributed digital company registry for conducting and verifying transactions, Bloomberg reports .

Companies use blockchain and other so-called “digital registers” to record transactions and process other data reliably. Google could use such an Internet service, for example, to convince customers of the security of information which is stored by a giant network of computer servers that manage cloud services.

Google is actively purchasing and investing into startups with digital registry experience. Many of the deals were not made public. However, Alphabet, the parent company of Google, was the leading corporate investor in this field in 2017, outrunning Citigroup Inc. and Goldman Sachs Group Inc.

Despite the interest in the blockchain technology, Google is planning to ban advertising of digital currencies starting from June.

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