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Crypto community divided over Google Cloud’s web3 initiative

by Admin

Google Cloud has stepped into the Web3 arena with the launch of a new portal aimed at blockchain developers, offering datasets and tutorials on non-fungible tokens (NFTs). However, the reception within the cryptocurrency community has been polarized, eliciting a range of opinions from industry insiders.

Crypto community divided over Google Cloud's web3 initiative

Critics have been quick to point out perceived shortcomings in Google’s endeavor. Phil Geiger, vice president of product marketing at Unchained, criticized the absence of native support for Bitcoin and lightning, labeling it as a glaring oversight. Similarly, prominent crypto trader MartyParty expressed disappointment over what he sees as Google’s lagging stance in the rapidly evolving blockchain landscape.

Despite the critique, some voices in the industry have embraced Google’s initiative. Ivaibi Festo, founder of Mitroplus labs, praised the Web3 portal as a “comprehensive resource,” emphasizing its potential value for developers in a post dated April 25. According to its website, the portal offers developers access to various tools, including testnet tokens for deploying and testing decentralized applications (DApps) on Ethereum’s testnets Sepolia and Holesky.

It also provides structured learning programs covering NFT development, Web3 loyalty programs, and the intricacies of securing digital assets through multi-party computation (MPC). Google Cloud’s move into Web3 follows a series of recent strides in the space. Notably, Google has expanded its search features to allow users to query wallet balances across multiple blockchains, including Bitcoin, Arbitrum, Avalanche, Optimism, Polygon, and Fantom.

Earlier this year, Google revised its advertising policies to permit certain crypto products, such as Bitcoin exchange-traded funds (ETFs), to be promoted on major search engines. The groundwork for these developments was laid through strategic partnerships, with Google Cloud’s BigQuery data warehouse integrating with MultiversX in October 2023 to facilitate data analytics and artificial intelligence for Web3 projects and users.

Furthermore, Google’s BigQuery has expanded its support, adding 11 additional blockchain networks in September 2023. These include Avalanche, Arbitrum, Cronos, Ethereum’s Görli testnet, Fantom, Near, Optimism, Polkadot, Polygon’s mainnet, Polygon’s Mumbai testnet, and Tron. Google’s venture into Web3 highlights the increasing significance of blockchain technology and its applications, while sparking discussions within the crypto community about the direction of the industry.

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