Thursday Breaking News: Alphabet Exploring Blockchain Integration
Sundar Pichai, CEO of Alphabet and Google, and his team, were recently on a conference call with financial analysts to present earnings results for the quarter and fiscal year ended December 31, 2021. Speaking on a growing interest on Blockchain, Pichai commented on how Alphabet plans to integrate blockchain technology to support its biggest products, services, and creators on YouTube.
Pichai said the following regarding blockchain: “Any time there is innovation, I find it exciting, and I think it is something we want to support the best we can…The web has always evolved, and it’s going to continue to evolve, and as Google, we have benefited tremendously from open-source technologies, so we do plan to contribute there.”
Pichai also said that Alphabet wants to “contribute to the ecosystem and add value,” since it is “such an interesting and powerful technology with broad implications, so much broader than any one application.” An example he gave was that the Alphabet cloud team is looking at how they can support Alphabet’s customers’ needs in building and deploying new products and services on blockchain-based platforms.
Another way Alphabet is planning to integrate blockchain technology within its products is to introduce NFTs to its video sharing and streaming platform, YouTube. This will open up new avenues for content creators on YouTube to earn revenue outside of ad revenues derived from views and video sponsors.
As for Alphabet as a whole, seeing that it has beaten earnings expectations in quarter 4, with quarterly revenue of $75.33 billion and with profits increasing year-on-year by 33%, it makes sense to start investing its cash into integrating blockchain, NFTs, and the metaverse, seeing that its competitor, Microsoft, recently made a big splash in acquiring Activision Blizzard, a massive gaming studio that will help Microsoft make moves in the gaming aspects of the metaverse.
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