Google Cloud is recruiting a team to create tools for developers working on Web3 products and services. The new group will seek to take advantage of the growing interest in blockchain-based applications as Google seeks to outpace its public cloud rivals, Amazon’s AWS and Microsoft Azure, in another emerging technology field.

Google Cloud has launched a new business unit focused on Web3 technologies. (Photo by Adam Berry / Getty Images)

With the creation of Web3, the company aims to make its Google Cloud Platform the number one choice for developers in the field, according to an internal email Amit Zaveri, vice president of Google Cloud, sent to staff on Friday. In the email seen from CNBCZawari said: “While the world is still early in its embrace of Web3, this is a market that is already showing great potential with many customers asking us to increase our support for Web3 and crypto-related technologies.

Led by James Tromans, CEO of Google since 2019, the new team will offer back-end tools to developers working on their own Web3 projects. “We are not trying to be part of this wave of cryptocurrency directly,” Zavery said in an interview with CNBC. “We provide technologies for companies to use and take advantage of the distributed nature of Web3 in their current businesses and enterprises.”

Why is Google investing in Web3?

Web3 is the idea that the next generation of the Internet will be built on distributed blockchain technology, where users have more control over their information. This often contrasts with Web 2.0, the era in which online data has become centralized with a small group of technology companies, including Google and Amazon.

Google strives to strengthen its position in any decentralized future on the Internet. In January, Technical monitor announced that the search engine giant has set up a blockchain unit in its laboratories to consider building decentralized systems for its own internal use.

The fact that he is ready to invest in emerging technology speaks volumes about Google Cloud’s place in the public cloud market, said Roy Ilsley, chief analyst at Omdia. It is the third largest player in the space with 10% market share, but is far behind AWS (33%) and Microsoft Azure (21%).

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Illsley says Google Cloud has enjoyed some success in offering customers access to emerging technologies, and the blockchain could be another area. “[Google Cloud] there are some strengths in newer technologies that have proven useful to them, such as artificial intelligence, machine learning and Kubernetes, “he says.” It is struggling with more traditional loads and gaining a larger share of this cloud market. It is therefore not surprising that they are investing in new emerging technologies, as these technologies will eventually become widespread. “

In fact, interest in Web3 is growing among developers. According to a study conducted by the VC fund Electric Capital, in 2021 more new developers are launching Web3 projects than ever before. His developer report analyzes more than 500,000 code repositories and notes that the number of developers who launched Web3 projects last year reached 34,391, 14% more than the previous record year, 2018.

Will AWS and Microsoft Azure invest in Web3?

While AWS and Azure offer consumers a limited set of blockchain tools, neither has invested heavily in the technology. Illsley says it remains to be seen whether decentralization will be key to the future of the Internet, so Google’s investment is somewhat speculative. “Google is trying to stay ahead of the game and position itself as a choice platform for Web3, but I think it’s too early to say whether it will become a well-accepted technology or a specialized offer,” he said.

Bola Rotiby, director of development trends at analyst firm CCS Insight, is more confident that Web3 and decentralized technology stay here. “We are starting to see a level of maturity for the blockchain, especially in terms of financial services,” she said. “It’s Google that believes that this technology will not disappear, and the emergence of things like the metaverse means that the use of this type of technology for identity and security purposes will only become greater.”

She says she expects both AWS and Azure to make similar investments. “It’s Google that is clearly supporting its developer community, so they are ready to use this technology,” she added. “Both AWS and Azure have their own communities of developers, which I’m sure will seek to support in a similar way.”

Read more: How will Web3 and DiFi affect privacy?

Google Cloud creates web3 unit to outpace AWS and Azure

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