Google Cloud allows payments in cryptocurrencies-but initially only for the web3 ecosystem
Clouds. Image by Samantha Beddoes via Flickr.com. License: Creative Commons
Google Cloud and the CryptoBörse Coinbase go a “long-term strategic partnership” to support “the growing web3 ecosystem”. For Google this is the most extensive step in the crypto world.
The partnership is announced by Google and Coinbase with largely identical press releases. It is actually unusually extensive.
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On the one hand, Coinbase will use Google Cloud as a cloud service to “offer outstanding stock market and data services”. Coinbase will use “Google Clouds Calculate computer platform” to “process blockchain data on a large scale” and to provide “Machine Learning Crypto Intights”. So Google Cloud sets up special services for Coinbase.
On the other hand, Google will also use a coinbase product. Cooinbase Prime should be able to pay for selected customers with cryp of cryptary services for cloud services. This should begin with customers from the web3 ecosystem, which is why the payments are probably less paid in Bitcoin than in Ether or StableCoin token.
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Web3 developers should also receive access to Google’s BigQuery Blockchain database. As a result, the developers can “operate web3-based systems immediately and reliably without needing expensive and complex infrastructure.“Coinbase is involved in this respect when it provides the necessary blockchain nodes through“ Coinbase Cloud Nodes ”.
After all, Google Coinbase Prime will use “institutional crypto services such as trust and reporting”. Coinbase Prime is a custody and trading platform for institutional investors and companies. What Google is going to do in this regard, but remains in the dark.
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Brian Armstrong, the head of Coinbase, is of course enthusiastic. “We couldn’t have come up with a better partner to realize our vision, to build a trustworthy bridge in the web3 ecosystem.“But also Thomas Kurian, the head of Google Cloud, is pleased:” We want to make it easier and faster to build something on web3 “, and the partnership with coinbase helps this purpose. One is proud to have won the stock exchange as a strategic partner, “and we are ready to support the emerging web3 ecosystem.”
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One can talk about a fusion of several Google and Coinbase services. What is striking on this is the extreme focus on web3. Both press releases repeatedly use this term, while they do not mention concrete cryptocurrencies.
Coinase even reserves a paragraph of the short message to explain what web3 is. It is “the next generation of the Internet that will enable people to own digital property in an open, decentralized environment. We are convinced that every company and every developer will work with the web3 over the next few years – until it will eventually become a synonym for the Internet itself.”
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And if even Google agrees, there may be something.