Blockchain, the technology that supports the crypto sector, has emerged as an interesting field of knowledge in recent years, several researchers say. In a bid to ramp up research work in the Blockchain sector, Google Labs has appointed a new team to focus on the up-and-coming tech. Google Labs is an incubator that tests and develops new-tech developments and projects, parented by the search engine giant. Shivakumar Venkataraman, an engineering vice president at the company has been chosen to head this new group.
The blockchain-focussed team at Google Labs is smaller in comparison with Google’s other research and product areas.
The main task assigned to the members of this group is to work around next-generation technologies in the distributed computing and data storage categories, Bloomberg said.
The Blockchain technology is basically an extending list of records termed “blocks” that are interconnected by “cryptography,” or complex codes and algorithms.
On Blockchain, information can be stored over the shared system where everybody can see it but cannot modify it, a report by Tech4Fresher explains.
Earlier this month, Bill Ready, the president of commerce at Google reportedly said that the company will evolve alongside user and merchant demands.
As of now, Google has not revealed any plans of listing cryptocurrencies as payment options for its services.
Augmented Reality (AR) is another field of technology that Google is paying attention to.
In November 2021, the company had created a special research team to work on high potential and long-term areas like AR.