Google is working on blockchain-related technologies to bolster the firm’s cloud business, reports suggest.
According to Bloomberg, people familiar with the matter say that the tech giant is quietly working on blockchain technology to “head off competition from emerging startups” that are already beginning to specialize in the technology to offer a range of new services.
The blockchain, also known as distributed ledger technology, is the backbone of cryptocurrency trading and wallets, and is most commonly linked to the exchange of cryptocurrencies including Bitcoin and Ethereum.
