Google forays further into Blockchain technology, ties up with Digital Asset
Google moves a step ahead in the Blockchain world. After the Bloomberg’s report of the internet giant acquiring an investing in startups with digital ledger expertise earlier this year, Google on Monday announced a partnership with Digital Asset, a New York-based startup to integrate blockchain to google cloud. “We’re partnering with Google Cloud to provide developers with a full stack solution so they can unleash the potential for web-paced innovation in blockchain,” said Blythe Masters, CEO of Digital Asset.
Digital Asset is a startup which seeks to bring digital ledger services to the business world. The partnership announcement is amidst major tech giants of the industry adopting Blockchain technology to their cloud services with Amazon web services leading the way. Google is in the third position with a market share of 6% after Microsoft.
The gist of the partnership is Google’s access to a Software Development Kit [SDK]. Digital Asset will allow access to SDK which will help developers test a smart programming language called DAML. DAML is Digital Asset Modelling Language which enables companies to create Blockchain applications, including smart contracts, in a simpler way. Masters said DAML helps build Blockchain-based payment services for a company’s partners and contractors. Also, the range of possibilities of DAML is very vast.
Digital Asset’s code is proprietary which works in favor of Google. Google chooses to build with open source code and SDKs will help make its blockchain building tools handy and easy to use. According to Masters, the alliance with Digital Asset is a licensing deal rather than an ownership position in the startup. Masters also said the company had broad connections with Google through its employees referring to a recent addition of an ex-google employee to their team.
Many startups are competing with Google for online dominance. They have all started utilizing the digital ledger services for gaining traction against the internet giant. Als,o big leagues like IBM, Facebook, Amazon.com are exploring potential uses of Blockchain technology. “You’re going to see an unbelievable amount of R&D expenditures go into this. Everybody learned from the internet and mobile that you can’t afford to wait,” said Jeff Richards, a managing partner at venture firm GGV Capital.
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