Alphabet, the parent company of Google and YouTube, evaluates implementing blockchain technologies in its services

Sundar Pichai, CEO of Google’s parent company, revealed that they are looking closely at Web3 and the blockchain. “We want to be in favor of innovation.”

Alphabet, the parent company of Google and YouTube, is closely following the Blockchain space and the growing developments around the Web3, according to blockworks.co

The company’s CEO, Sundar Pichai, made his first comments on the latest technology trend, admitting that Alphabet is interested in moving in that direction.

Pichai said the company is looking at how it can add value to this breakthrough that many of its Silicon Valley peers are already working on.

“Any time there is innovation, I find it exciting,” the CEO said of blockchain technology and digital currencies, during an Alphabet earnings call.

 “I think it’s something we want to support as best we can,” adding:

The web has always evolved and will continue to evolve, and like Google, we have benefited greatly from open source technologies, so we plan to contribute there.

Asked how Alphabet sees Web3, Pichai said there are several “areas of interest” for the company.

He mentioned augmented reality as an example, pointing to plans to bring key Google services into any virtual world that people might use in the future.

He also added that the company is examining how it can use blockchain technology to power YouTube and Google Maps computing layers and services.

“We are definitely looking at Blockchain. It is such an interesting and powerful technology with wide applications,” said Pichai.

Along these lines, Pichai said that Google Cloud, Alphabet’s cloud storage service affiliate, is looking to “support customer needs” through Blockchain-based platforms.

Google Cloud announced the new team last week, highlighting that the intention is “to support businesses in the digital asset/Blockchain ecosystem.” The company also indicated at the time that it is evaluating the possibility of allowing its customers to pay and make payments with cryptocurrencies.

“Technology will continue to evolve and innovate, and we want to be pro-innovation and approach it that way,” Pichai added.