Google’s Entry into Blockchain is Imminent as ChainLink Partnership Looks to Be Just the Beginning
Blockchain has successfully imputed itself into the mainstream tech world and this is evidenced by the fact that several big tech giants have been getting into it such as Microsoft, Amazon, and Facebook who recently launched the whitepaper for their much-awaited stablecoin.
One tech giant that hasn't been as active in the blockchain space has been Google though they have slowly been allowing blockchain and crypto services to begin advertising on their platforms.
Their lack of activity should not necessarily be interpreted as them not being interested in blockchain as it is believed that they are quietly plotting their next move and taking their time.
It has been reported that since 2016 that the Google cloud researchers have been researching blockchain as well as indexing public reading datasets on ethereum and other big platforms for Google’s data Analytics platform BigQuery.
What BigQuery does, in this case, is gathering a large amount of data from various blockchains to be brought together and properly analyzed and these datasets have been used to develop various processes such as profit sharing and detecting software vulnerabilities.
It is believed that Google is using this as an avenue to learn as much as they can about the inner workings of blockchain and eventually use this knowledge to provide services to thousands of people who they intend to introduce to blockchain.
It has also been said that smart contracts will be a part of this development in the future. The smart contracts, however, will need access to outside data and currently, there is a lack of Oracle providers who can securely plug smart contracts into data sources that do not exist within the blockchain. However, there may be a solution to this problem.
Google Dabbles in Blockchain
lending more credence to the rumors of Google planning an entry into the blockchain world, they announced a partnership with Chainlink, a decentralized oracle provider last week and this new partnership is aimed to deliver various services for providers and accelerating the creation of tools that were not previously available.
They will also solve Google's current problem by acting as a middleware between the data that Google has and smart contracts that they need as well as providing an on and off ramp for the outside information that is required.
“At a high level, Ethereum Dapps (i.e. smart contract applications) request data from Chainlink, which in turn retrieves data from a web service built with Google App Engine and BigQuery,” said the Google Cloud developer advocate Allen Day in an explanation report. According to him, this new partnership will help the development of hybrid blockchain cloud applications.
He gave an example of how data regarding how on-chain activity can be used to create smart contracts that will give payouts in certain situations.
Google is banking on development teams that have a need for the cloud services may be persuaded to buy into their various component applications and there has also been the anticipation on the part of Chainlink.
“We’re excited to be working with Google on their forward-looking view about what it takes to make smart contracts a widely used technology that powers our daily lives,” Nazarov told Decrypt. “The sooner smart contracts have secure access to useful data like Google’s BigQuery data sets, the sooner they will reach their full potential,” said Sergey Nazarov, the CEO of Chainlink.