According to Allen Day, a data scientist based in Singapore, Google will make a lot of money by making blockchains more searchable. In mid-December, Day used Google tools to analyze data and discovered a concerted mysterious use of artificial intelligence on Ethereum’s blockchain. When he investigated further, he discovered that many autonomous agents have been moving funds from one place to the other within the blockchain in an automated fashion. Day admitted that he didn’t know who was behind it but he suggested that it may be cryptocurrency exchanges that are executing trades among themselves to inflate the price of the ETH token artificially.
Google Will Make Billions By Making Blockchains More Accessible
Day is Google Cloud’s senior developer advocate. He prefers to refer to himself as customer zero for Google’s cloud computing efforts. So, it’s his job to determine demand before a product is even created. According to him, creating more accessibility for blockchain is going to be the next big thing in the tech world. You’ll recall that Google made the internet more accessible in the past. This move didn’t just profit the company. It changed the world as we know it. Day believes that Google’s next big break will come from repeating the same thing with blockchain technology. This will give the world the opportunity to learn about blockchain and decide if it’s worth the hype.
Bitcoin (BTC) Price Today – BTC / USD
Already, one Danish researcher called Thomas Silkjaer uses Google’s BigQuery to map information about XRP addresses that are publicly available. The information comes from some of the largest exchanges in the world. Day and his team of developers, last year, starting loading BigQuery with data about the entire Ethereum and Bitcoin blockchains. They were able to create a software that will make the data more searchable with the help of Evgeny Medvedev.
Google, Amazon And Microsoft
You see blockchain hasn’t been able to reach massive adoption. Irrespective of the fact that it lacks the required publicity, the industry has made steady progress over the years. Within last year alone, up to 500 projects worked on products for the blockchain industry. Google is hoping leverage this emerging technology.
Last year, Google fell behind in cloud computing when it recorded only $3 billion in revenue while Amazon and Microsoft made $27 billion and $10 billion each. Day hopes that the Blockchain ETL project will help even the playing field. Unfortunately, Google is late to the party. Amazon started exploring blockchain technology in 2018. The tech giant created a suite for developers to build and manage distributed ledgers. In 2015, Microsoft released a similar tool for Ethereum developers. It now boasts of offering many other services as part of the Azure Blockchain Workbench.
The difference here is that while Microsoft and Amazon are making it easier for developers to build on the emerging technology, Day is suggesting that Google focuses on exposing the technology. In his words:
“Soon, moving more economic levels on the blockchain will need more than a consensus level of trust. It will require some knowledge trust. People will want to have an idea of who they are communicating with.”
What Day is trying to say is that if blockchain technology is ever going to reach mass adoption, one of its key features, anonymity, may be abandoned.
Do you think Google will be able to make blockchain technology as popular as the internet? Share your thoughts.