Google-Parent Alphabet CEO Sundar Pichai Weighs in on Web3, Says Company Is ‘Looking at Blockchain’

Google has also started its own team working on blockchain.

By Mark Bergen, Bloomberg | Updated: 2 February 2022 16:12 IST

Highlights

Sundar Pichai said “Any time there is innovation, I find it exciting”
"We are definitely looking at blockchain,” he added
Pichai didn’t mention cryptocurrencies which Google doesn’t accept

Google-Parent Alphabet CEO Sundar Pichai Weighs in on Web3, Says Company Is ‘Looking at Blockchain’

Pichai made his comments after Alphabet posted more than $20 billion (roughly Rs. 14,958 crores) profit

Alphabet Chief Executive Officer Sundar Pichai made his first public comments on Web3, saying he is watching the blockchain space and looking at how Google's parent company can add value to development of the technology that's being embraced by many of his Silicon Valley peers.

“Any time there is innovation, I find it exciting,” Pichai said on Tuesday in response to a question about the technology on Alphabet's earnings call. “I think it's something we want to support the best we can.”

Investors have plowed money into companies working on Web3, a vision of the internet model built around cryptocurrencies and digital ownership. Many other technology companies, such as Block, Meta, and Twitter, have embraced this fervour with plans for payments, coins or services that incorporate digital tokens. Google has largely stayed quiet on the topic.

“We are definitely looking at blockchain,” Pichai added. “It's such an interesting and powerful technology with broad applications.” He cited a recent announcement Google's cloud division made to win more contracts with companies working on “digital assets.” Google has also started its own team working on blockchain. Pichai didn't mention cryptocurrencies, which the company currently doesn't accept for its ads or payments service.

Many Web3 evangelists position the nascent technology as an antidote to centralised internet providers like Google. Pichai made his comments after Alphabet posted more than $20 billion (roughly Rs. 14,958 crores) in profit during the holiday quarter from its stable of web properties.

On the call, Pichai touted Google's investments in augmented reality, noting plans to bring key services like Maps and YouTube into whatever virtual worlds people may use in the future. He didn't mention any work on devices.

Why is 5G taking so long? We discuss this on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

Affiliate links may be automatically generated - see our ethics statement for details.

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.