Sundar Pichai, CEO of the tech giant and its parent company Alphabet acknowledged the power of Web3 and blockchain in the group’s quarterly earnings call Tuesday.
“On Web3, we are definitely looking at blockchain,” Pichai said, according to a transcript of Alphabet’s earnings call compiled by FactSet, calling it “an interesting and powerful technology with broad applications.”
“As a company, we are looking at how we might contribute to the ecosystem and add value,” Pichai added. “One example, our Cloud team is looking at how they can support our customers’ needs in building, transacting, storing value and deploying new products on blockchain-based platforms.”
Pichai said the company is very interested in blockchain, it is an intriguing and powerful technology with a wide range of applications. Google has also established its own blockchain team. Pichai made no mention of cryptocurrencies, which the company currently does not accept for advertising or payments.
Many web3 proponents see the rising generation as an antidote to centralised net companies consisting of Google. After Alphabet said a income of extra than $20 billion from its internet homes at some point of the vacation quarter, Pichai made his remarks.
During the call, Pichai emphasized Google’s investments in augmented reality, bringing up plans to combine key offerings together with Maps and YouTube into something digital worlds human beings may also use withinside the future. He made no point out of any tool work.