Sergey Brin, one of Google‘s co-founders, reported that the tech giant has failed to position itself in the top of revolutionary technology, known as blockchain technology.
Sergey Brin said disappointingly during the Blockchain Conference held in Morocco that Google has lost its golden chance to lead the blockchain revolution.
“We probably already failed to be on the bleeding edge, I’ll be honest,” he stated.
Is Google working on blockchain-based projects?
Nonetheless, the president of Alphabet, Google’s parent company, has revealed that the tech multinational will not give up on market opportunities. He mentioned several times that X (a semi-secret research organization) is working on new projects based on blockchain technology, indicating that:
“I see the future as taking these kind of research-y kind of out-there ideas and making them real — and Google X is kind of like that.”
As reported on 9th July by Coindoo, Sergey Brin confirmed that he is mining Ethereum (ETH) along with his son, even though he specified he doesn’t know in detail about blockchain and cryptocurrencies.
Google is definitely not foreign to blockchain technology, even if it missed the first round to join the tech boom. We would like to remind you that in the first quarter of 2018, Google announced that it would block advertising of ICO and cryptocurrency-related services – a decision considered “hypocritical” by Phillip Nunn, CEO of cryptocurrency investment firm Blackmore Group.
Here’s what Null stated:
“I understand that Facebook and Google are under a lot of pressure to regulate what their users are reading, but they are still advertising gambling websites and other unethical practices.”
Phillip Nunn believes the ban is a way to eliminate competition through lack of engagement in their promotion as the company is working on its own blockchain-based projects.
“I suspect the ban has been implemented to fit in with potential plans to introduce their own cryptocurrency to the market in the near future and therefore removing other crypto adverts allows them to do it on their own terms,” he added.
Even if Google is not fully involved in the technological revolution, we can expect the tech giant to raise the sector standards soon.