Google competes with blockchain for cloud technologies
In March, 2018 it became known that Google was going to introduce the technology of blockchain in its cloud service.
The company confirms that there are ongoing developments in this direction. Moreover, as Bloomberg’s source has informed, the company was already engaged in buying and investing in startups connected with digital registries before.
Buying up small companies possessing innovative technologies is the typical tactics of a monopolist.
Why Google is going to introduce blockchain in its already not so bad cloud service is not quite clear. What’s even more suspicious is that the news about it has been spread at the level of inside information — no concrete information, only vague rumors and references to some anonymous sources.
Who and what for has started the throw about the blockchain developments? Who benefits from it?
First of all, we need to look closely at the existing state of affairs.
Google is the world leader in the sphere of cloud technologies. The only thing that threatens the unlcouded market position of the company is the technology of blockchain with its possibility of decentralised storage and data transmission.
With the advent of this technology the creation of the distributed digital registry became accessible even to small startups.
By the way, new startups which conduct developments in this direction say that Google’s cloud services are not safe enough for user data storage, so they criticise the monopoly of large companies in the market.
Earlier I wrote that the development of the blockchain technology does not play into the hands of world IT-companies like Facebook, Google, Amazon, Microsoft and others. Therefore they publicly denounce ICOs and cryptocurrencies, meanwhile studying blockchain carefully, because this technology threatens their monopoly.
This is the reason behind the ICO advertising ban on large Internet platforms like Google and Facebook. The IT monopolists do not want to let small companies be engaged in blockchain developments, therefore they aspire to take this sphere under control.
What if Google does not really plan to introduce blockchain in its cloud services and just wants to prevent a product which can become a real alternative to its cloud service from appearing on the market?
Therefore it tries to take the blockchain developments under control and buys up startups.
You’ve got to be a big cryptoenthusiast and have enough ambition to refuse the investments of Google for the sake of destroying its cloud monopoly.
It looks like the “bright” future, where capitalism and market laws become not the engine, but the obstacle to the development of new technologies, has come.
What do you think of it?