Google Cloud Web3 portal launch sparks talks in crypto industry

Google Cloud recently launched a web3 portal with various tools that triggered much debate

Google Cloud has introduced a new Web3 portal with resources for blockchain developers. This launch includes datasets and tutorials on creating non-fungible tokens (NFTs). The release also includes learning resources for developers, and it has already received mixed reactions from the crypto industry.

Google Cloud has launched a new Web3 portal for blockchain developers. It offers new features and might change the game, but not everyone in the cryptocurrency world likes it^[1].

Phil Geiger, a vice president at Unchained, complained on X on April 25 about the lack of support for Bitcoin and lightning, calling it a big mistake to ignore the top cryptocurrency.

"No native Bitcoin and lightning support? Seems like an oversight to ignore the most important cryptocurrency," vice president of product marketing at Unchained Phil Geiger stated

MartyParty, a crypto trader, also disappointed his 80,700 followers on X on April 26 by saying Google is far behind.

However, some people like the new portal. Ivaibi Festo, who runs Mitroplus labs, called it a "comprehensive resource" in an X post on April 25.

The website states that developers can use various products and get testnet tokens to try out their decentralized apps on Ethereum testnets Sepolia and Holesky^[2].

These updates are part of Google's recent activities in the Web3 industry

The portal also offers a learning program with tutorials on creating NFTs, setting up Web3 loyalty programs, and securing digital assets using multi-party computation.

Google has added new features that let users check wallet balances across several blockchains, including Bitcoin, Arbitrum, Avalanche, Optimism, Polygon, and Fantom.

At the start of 2024, Google changed its rules to allow some crypto products, including Bitcoin exchange-traded funds, to be advertised on major search engines.

In 2023, Google focused on forming partnerships to get ready for this year's portal launch. In October 2023, Google Cloud's BigQuery data warehouse connected with MultiversX^[3]. This integration will help Web3 projects and users gain important insights through data analytics and artificial intelligence within the Google Cloud.

Google Cloud projects and the future of the Internet with web3

In today's digital world, two significant concepts are changing how we use technology: Google Cloud BigQuery and Web3. Let's explore what they are and how they could shape our future.

Just a month earlier, in September 2023, Google’s BigQuery included 11 new blockchain networks. These networks are Avalanche, Arbitrum, Cronos, Ethereum’s Görli testnet, Fantom, Near, Optimism, Polkadot, both the mainnet and Mumbai testnet of Polygon, and Tron.

Google Cloud BigQuery is a tool that helps people and companies manage a lot of data. It's like a super-powerful library that can store and find lots of information very quickly. Companies use BigQuery to understand their data better and make smart decisions. For example, a business can look at its sales data to see which products are popular and why.

What is web3?

Web3 is a new way of building websites and applications. Only a little part of the world knows what it is. The "web" part refers to the internet, and "3" suggests it's the third version of it. The first version (Web1) was all about reading content, like reading a book. The second version (Web2) added interactivity, like being able to write reviews about a book online.

Web3 goes even further by using blockchain technology, which is what powers things like Bitcoin. In Web3, users can own part of the internet, make transactions without a middleman, and keep their information private.

Projects like Google Cloud BigQuery are not directly part of Web3, but they can work together in interesting ways. For example, BigQuery can analyze a lot of data from Web3 applications to help improve them or create new services.

Web3 can benefit from the speed and power of BigQuery to handle complex data tasks. This partnership could lead to faster, more secure, and user-friendly applications that give more control to users. Web3 promises a lot for the future. Here are a few possibilities:

1. More Control and Ownership: Web3 lets users own their data and have a say in how internet platforms work.
2. Privacy and Security: Web3 could make personal information safer because it isn't controlled by one company.
3. New Kinds of Jobs and Services: As the Web3 ecosystem grows, it could create new types of jobs and services that we can't even imagine yet.