Google Cloud Introduces Web3 Portal

Key Takeaways

1. Mixed Response: Google Cloud’s new Web3 portal has sparked a variety of reactions within the cryptocurrency industry, with some expressing disappointment and others offering praise.
2. Criticism and Support: While critics like Phil Geiger from Unchained argue that the portal lacks key features such as native Bitcoin and lightning support, supporters like Ivaibi Festo from Mitroplus labs see it as a valuable resource for developers.
3. Resource Access: The Web3 portal provides developers with access to a range of products, including testnet tokens for experimenting with decentralized apps (DApps) on Ethereum testnets. Additionally, it offers tutorials on NFT development and other Web3-related topics.
4. Google’s Web3 Initiatives: Google has been actively involved in the Web3 space, introducing features like wallet balance searches across multiple blockchains and allowing certain crypto products to be advertised on major search engines.
5. Partnerships and Integration: Before the portal launch, Google partnered with MultiversX to integrate its BigQuery data warehouse with blockchain networks like Avalanche, Arbitrum, and Ethereum’s Görli testnet, enhancing data analytics capabilities for Web3 projects.
6. Potential Impact: While Google’s Web3 portal represents a significant step into the blockchain world, the mixed reactions highlight the diverse perspectives within the crypto community. The ongoing expansion of Google into Web3 raises questions about its potential impact on the industry.

Some folks in the industry aren’t too thrilled with what the portal offers. Phil Geiger from Unchained thinks it’s missing native Bitcoin and lightning support, which is a big deal considering Bitcoin’s importance. Another crypto trader, known as MartyParty, feels Google is falling behind its rivals.

On the flip side, some people are cheering for the launch. Ivaibi Festo, founder of Mitroplus Labs, thinks the Web3 portal is a solid resource for developers.

The Web3 portal gives developers access to different products. It even hands out testnet tokens so they can try out and test decentralized apps (DApps). Plus, there’s a learning program with tutorials on NFT development, setting up Web3 loyalty programs, and securing digital assets with multi-party computation (MPC).

Google’s Recent Web3 Moves

Google isn’t new to the Web3 game. They’ve been making moves, like letting users search wallet balances across various blockchains, including Bitcoin, Arbitrum, and more.

At the beginning of 2024, Google changed its rules. They now permit certain crypto products to be advertised on major search engines. These include Bitcoin exchange-traded funds (ETFs). Before launching the portal, Google partnered with MultiversX. This partnership aimed to integrate Google Cloud’s BigQuery data warehouse. It occurred back in October 2023.

Back in September 2023, Google’s BigQuery expanded its reach. It welcomed 11 blockchain networks into its data warehouse. These networks include Avalanche, Arbitrum, and Ethereum’s Görli testnet. The goal of this integration is to assist Web3 projects and users in gaining insights. They can utilize data analytics and artificial intelligence tools within the Google Cloud ecosystem.

Google’s Web3 portal is a big step into the blockchain world, but not everyone’s sold on it yet. The mixed reactions show there are different views in the crypto community. As Google keeps expanding into Web3, we’ll have to wait and see how it shakes up the industry.