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Google Labs Is Building A Brand New Blockchain-Focused Group

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Google Labs is building a brand new group focused solely on blockchain technology. That’s according to widespread reports citing an email said to have been viewed by Bloomberg.

For clarity, Google Labs is a subdivision and incubator at Google for upcoming technology. Specifically, a division that puts its focus on“high-potential, long-term” projects. And the executive leading the new project, engineering vice president Shivakumar Venkataraman, is no stranger to taking on heavy projects. Having worked on advertising and payment systems with Google, including Search, for more than a decade.

So what is the new Google Labs project built on blockchain?

As of this writing, the Google Labs group responsible for examining blockchain technology is still being formed. And, according to reports, is “relatively small.” At least compared to teams working on other product areas at Google. But the project is still very much a mystery.

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According to reports, Google has tasked Mr. Venkataraman with focusing on “blockchain and other next-gen distributed computing and data storage technologies.”

That could mean any number of technologies, built around the same ledger-like system for recording transactions used for technologies such as Bitcoin. Namely, a technology that centers around cryptography and secure transactions. More importantly, those are difficult — or sometimes impossible — to change, to hack, or to cheat. With each transaction on the blockchain recorded to every participant’s ledger. But with less of a focus on the financial.

In fact, all that’s known for now is that the focus will be on distributed computing and data storage. The latter is self-explanatory and the former potentially relates to cloud services or cloud-based computations. And, since Google Labs primarily focuses on technologies that support or undergird existing Google products and services, there is a huge range of possibilities there. With no clear direction that Google might ultimately take with its research in the group.

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