Google Is Reportedly Experimenting With Blockchain Technology

Google seems to be working on the latest distributed ledger technology, that underpins the Bitcoin, to support their cloud business.

According to an unnamed sources who talked with the Bloomberg, the search engine company wants to head off the competition by creating their own shared ledger technology to validate transactions within their cloud based services.

Google And Blockchain

The company will form a blockchain that can be used internally in the company as well as the third parties can access to post and verify the transactions, said the unnamed source.

Google reportedly wants to use the blockchain technology in their cloud sector. For example, the shared ledger could be used to soothe clients and customers that their confidential data is safe and protected when stored in Google Cloud. Google has filed a patent application for a tamper-proof audition system backed by Blockchain technology.

The company was researching the distributed ledger technology but still there is a no official product to release, says Sridhar Ramaswamy, Google’s senior vice president of ads and commerce to CNBC.

“Like many new technologies, we have individuals in various teams exploring potential uses of blockchain but it’s way too early for us to speculate about any possible uses or plans."

A Google Spokeperson

Blockchain Technology Being Used By Other Tech Giants

Tech giant companies like IBM Corp, Microsoft, and Amazon AWS, are leading the pack of blockchain service providers.

Microsoft is working on its BAAS (Blockchain as a service) model on its Azure cloud platform since past two years. Morever, in August 2017, the company has announced a software named “Coco Framework” to help enterprises adopt blockchain.

An American tech giant company, IBM is also working on its own IBM Blockchain, a service build on the Hyperledger Fabric.

Amazon Web Services aka AWS admitted that the company is working on integrating blockchain technology. Amazon still isn’t working on its own service but they’ve launched a portal to help their customers. Continuing the suspense, Amazon has reserved many bitcoin related domains last year. It indirectly indicates their interest towards the cryptocurrency and the technology.

However, it is unclear what forms these new technologies will take and whether a top tech firm will successfully be able to make their blockchain based product mainstream.

Those Banned From Facebook May Not Be Able to Use Its Cryptocurrency Libra

Facebook’s two days of congressional hearings on the social media giant’s cryptocurrency ambitions seemingly revealed that those who have been banned from Facebook may not have access to Libra.

During the congressional hearing Facebook had to answer some tough questions, and one of them came from Representative Sean Duffy, which asked the company’s cryptocurrency head, David Marcus, who’ll have access to Libra.

The Congressman initially asked Marcus who could use the cryptocurrency, to which Calibra’s CEO answered: “anyone that can open a Calibra account, that can go through KYC [know-your-customer checks] in countries where we can operate.”

Duffy then referenced two individuals banned from Facebook for violating its community guidelines, Louis Farrakhan and Milo Yiannopoulo, and asked whether they’ll be able to use the social media giant’s cryptocurrency.

Marcus ended up replying he doesn’t “know yet,” after seeing Duffy hold a $20 bill and ask hin who can use it. His point was that cash doesn’t discriminate, and that anyone who can hold it can use it.

While throughout the hearing Marcus tried to point out the company will follow appropriate regulations and comply with lawmakers, Duffy responded that a proper answer would be “as long as you abide by the law, you can use Libra.” The fact he didn’t get this answer, Duffy said, gave him “great pause.”

Speaking to The Daily Beast Elka Looks, a Facebook spokeswoman, clarified Marcus addressed the Congressman’s concerns later on in the hearing. She stated:

For Libra, anyone who is engaging in lawful activity will be able to transact on the network. Facebook will have no say. For Calibra, there is no policy in place yet, but we will share it when it is closer to being finalized.

The news outlet adds that Calibra, Facebook’s wallet to send, receive, and hold Libra, doesn’t yet have final terms of service or a privacy policy. All of this means that those who’ve been banned on Facebook may not have access to its cryptocurrency.

As CryptoGlobe covered, Congressman Warren Davidson implied during the hearings Facebook’s crypto is a ‘shitcoin’ as it doesn’t have some of the properties bitcoin has. The Congressman made it clear bitcoin has no central authority that can censor transactions or dilute its value, while Libra has the Libbra Association.