Search and tech giant, Google, has said it is diving deeper into web3, as it launches a new blockchain division as part of its Labs group.
The division will be led by Shivakumar Venkataraman, an engineering vice president for Google.
The division will focus on ‘blockchain and other next-gen distributed computing and data storage technologies,’ according to an email obtained by Bloomberg.
The new blockchain division will be dedicated to the experimentation with these decentralized technologies under the umbrella of the Labs group.
Labs is an experimental division that groups all the AR and VR efforts, and other potential projects in the tech area. The new Google Labs group also includes an in-house incubator for projects called Area 120.
While the Search giant has been coy in crypto, in recent months, it has become more open, a situation which has been highlighted by the comments from its Head of Commerce, Bill Ready.
“Crypto is something we pay a lot of attention to. As user demand and merchant demand evolves, we’ll evolve with it.” – VP, Commerce, Google
Other than that, Google has completed a partnership with Coinbase and Bitpay exchanges which let’s customers store cryptocurrency in digital cards.
In 2021, the company inked a partnership with Bakkt, a digital platform, to allow users to spend cryptocurrencies using its card on the Google Play platform.