Google announced on Tuesday that it is entering a strategic partnership with Coinbase to quicken adoption and innovation in the web3 space.
Take Away Points
- Google announces they are partnering with Coinbase.
- The partnership will enable Google Cloud users to pay for their cloud services with Cryptocurrencies through Coinbase Commerce.
- And will quicken the adoption and innovation of Web3 in the ecosystem.
Google Cloud Next ‘22
To promote the adoption and innovation of Web3 in the ecosystem, Google announced its partnership with Coinbase on Tuesday.
According to the report, Google Cloud-selected customers on the Web3 ecosystem can now pay for their cloud services with Cryptocurrencies through Coinbase Commerce.
Surojit Chatterjee, Chief Product Officer at Coinbase, said that Web3 is the next generation of the internet. very soon, every company and developer will be building on it.
“We are excited to partner with an industry leader and hope it will allow developers everywhere to build great products for the web3 ecosystem.” Chatterjee said, “Web3 is the next generation of the internet that will allow people to own digital property within an open, decentralized environment. Over the next few years, we believe every company and developer will be building on Web3-to the point where Web3 will become synonymous with the internet itself.” He further added.
CEO of Google Cloud, Thomas Kurian in his comment said that Data and AI are changing everything around us and that it’s time to embrace openness and interoperability.
“Data and AI are transforming everything around us, and open, connected ecosystems are essential to everything we do. Now is the time when we need to embrace openness and interoperability, and we are incredibly excited about everything we are doing on that front. We’re proud that industry-leading companies and many of the world’s biggest brands are choosing Google Cloud.” Thomas said.
Google partners with Coinbase
Through BigQuery, web3 developers can have access to Google Cloud’s blockchain data. this will be powered by Coinbase Cloud’s Node as reported.
Google will be able to use the institutional crypto services that are provided by Coinbase Prime.
Selecting Google Cloud as a strategic cloud provider, Coinbase will be able to use Google Cloud’s powerful computing platform to increase the use of crypto services worldwide.
Web3 Ecosystem
Web3 is the new internet that aims to decentralize the way we consume content. It is not controlled by an individual or corporation, but rather, by a community of builders and users who contribute to and own it.
Web 2.0 which it is aiming to replace, was based on centralization where users don’t own or control data – but only read-write.
To solve the problem of centralization and control by a few powerful organizations. Web3 has caught mainstream attention. In web3, power and ownership are back to the users through Blockchains, Cryptocurrencies, and smart contracts which execute data without intermediaries.
