Google Has Invested $1.506 Billion in Blockchain Firms

Vignesh Karunanidhi
Google Has Invested $1.506 Billion in Blockchain Firms
Source: Gearrice

Google had a love-hate relationship with blockchain and cryptocurrencies early on. However, all the hate seems to have faded away. The internet behemoth previously held a pessimistic view of the cryptocurrency market because it refused to allow cryptocurrency marketing on its website. Google, on the other hand, disclosed that it was re-evaluating the policy in June of last year.

The Google Cloud business division also made known at the start of the year that it was assembling a team to assist its clients with their cryptocurrency requirements. The business disclosed that it was investigating the possibility of receiving cryptocurrency payments from customers.

Earlier this year, the Google team announced that they were putting together a team to provide services to blockchain developers.

Google moved from disbelief to over $1.506 billion in blockchain investments

Google’s parent company, Alphabet, has invested over $1.506 billion in the blockchain space from September 2021 to June 2022. The data is as per the analysis and report by Blockdata. As per the information, Google has investments in Fireblocks, Dapper Labs, Voltage, and Digital Currency Group. However, it is also unclear whether the company has invested more funds in other firms since June.

Google recently announced its “Cloud’s Blockchain Node Engine” on one of its official blogs. The company has endorsed blockchain technology, claiming that it is altering how the world moves and stores data. Google released the new engine as a support tool for Web3 developers. It will also assist them in developing and launching products on blockchain-based platforms.

It was also reported that the firm was working with Etherscan to display the Ethereum wallet balances while searching the wallet address.