A former Google manager has recently revealed he believes the company shouldn’t be focusing so much on artificial intelligence and virtual reality, but on blockchain technology and cryptocurrencies, as some other large tech companies are moving into the space.
According to Business Insider the former Googler, who asked to remain anonymous, said Google, Facebook, and Amazon should’ve “seized the opportunity to gather expertise and invest in blockchain and cryptocurrencies long ago.”
"These big, old tech companies are stuck in the past. All they talk about is machine learning. The only thing I care about, the only thing that anyone should care about right now, is crypto assets."
As covered, Facebook and Amazon have indeed been exploring the cryptocurrency and blockchain space. Various reports recently revealed the social media giant is “very serious” about launching its own cryptocurrency, and even put former PayPal president David Marcus in charge of a team that’s set to “explore how to best leverage blockchain across Facebook.”
Amazon, on the other hand, recently saw its cloud-computing unit Amazon Web Services launch free Ethereum and Hyperledger Fabric blockchain templates, which will allow its customers to easily create and deploy secure blockchains.
While some cryptocurrency enthusiasts believe the e-commerce giant may one day accept cryptocurrencies, that remains to be seen. Last year, the company bought three crypto-related domain names, a move that could just be protecting its brand name.
Per the former Googler, cryptocurrencies are going to change the financial industry, and as such Google should start focusing on them. He added:
"This is what's going to change money and the financial industry as we know it. Google could use it for Adsense, for everything they do. The company should be a frictionless paywall... You're going to see them all eventually come after this."
While some unnamed sources have claimed Google is experimenting with blockchain technology, its most well-known involvement with cryptocurrencies as banning industry-related ads from its platform. The move even saw a Russian entrepreneur sue the tech giant.