The announcement reads that through this new team, Google Cloud will be better placed to “support customers’ needs in building, transacting, storing value, and deploying new products on blockchain-based platforms.”
Building business around blockchain applications would position Google Cloud to leverage the fast-growing momentum behind decentralised-finance (DeFi) opportunities in the cryptocurrency market.
Citing blockchain and distributed-ledger-based technologies such as Hedera, Theta Labs, and Dapper Labs as companies which have already built on top of Google Cloud, the release adds that the Digital Assets Team will undertake a number of initiatives in the short and long term, including:
Notably, the announcement adds that as the new team grows, it will be exploring opportunities to enable Google Cloud customers to make and receive payments using cryptocurrencies.
