Blockchain Explorations By Google Raise Some Questions For The Industry
Google recently partnered with New York startup Digital Asset, which makes tools to build blockchain-based apps. The deal was the second for the search giant, adding to its alliance with BlockApps, another startup that helps people make decentralized apps.
Google said in a blog post that its cloud customers can “now explore ways they might use distributed ledger technology (DLT) frameworks” by using Digital Asset and BlockApps. The company will allegedly introduce open-source integrations for apps built with the blockchain-based platforms Hyperledger Fabric and ethereum later this year in the Google Cloud Product marketplace.
Block Tribune talked with Christian Ferri, president and CEO of BlockStar, a company that bills itself as the first all-in-one blockchain ecosystem for entrepreneurs, investors and students of the decentralized sciences, about what the moves may mean.
BLOCK TRIBUNE: Google has a history of arbitrarily downgrading search results on businesses without any explanation, or changing its algorithms without warning. Will smart contracts help with that issue?
CHRISTIAN FERRI: Smart contracts will ensure fairness in organic search results, making current search algorithms more transparent.
BLOCK TRIBUNE: Do you think Google plans to construct its own proprietary blockchain?
CHRISTIAN FERRI: Except for the recent partnership with Digital Asset, Google hasn’t really been very active in the blockchain arena. Instead, it seems the company is doubling down on Quantum computing, which will enable some blockchain-like features, such as fast transaction times and large data set mirroring, while keeping ownership of the data still under one roof.
BLOCK TRIBUNE: Google has lately taken steps to restrict certain content. Do you foresee that being a problem for app developers?
CHRISTIAN FERRI: Content restrictions by big players are pretty standard in the digital economy; we’ve seen those being performed by Facebook, YouTube, Twitter, and more. I think it doesn’t represent an issue in this case, and eventually the developers will adapt accordingly.
BLOCK TRIBUNE: All that aside, what will Google’s entry mean to blockchain’s development? Cryptocurrency issues?
CHRISTIAN FERRI: When giants enter a new industry it is usually a good thing for everyone, as they help expand the pie. The ecosystem receives more attention, regulation and legitimacy, and as a result more growth for everyone.
BLOCK TRIBUNE: Should the government monitor Google’s blockchain activities to make sure it’s playing fair?
CHRISTIAN FERRI: As we’ve seen recently with Google and Facebook on monopolistic tactics and data privacy lousy standards, Governments today should monitor big players’ activities to ensure fairness and protection for consumers and competitors. Tomorrow, that oversight may be done instead through a community-based watch program that incentivizes both individuals and companies to part-take towards the same goal, in the true decentralized spirit.