Google Cloud recently unveiled its Web3 portal, which provides resources for blockchain developers, including datasets and tutorials on creating non-fungible tokens (NFTs). The reception within the cryptocurrency industry has been mixed, with some expressing disappointment over the lack of native support for Bitcoin and the Lightning Network. For example, Phil Geiger from Unchained criticized the omission, while a pseudonymous trader named MartyParty claimed that Google is lagging behind in the industry.
Despite the criticisms, there were also those who welcomed the launch of Google’s Web3 portal. Ivaibi Festo, the founder of Mitroplus labs, described it as a comprehensive resource. The platform offers developers access to various products and provides testnet tokens for deploying and testing decentralized applications (DApps) on Ethereum testnets such as Sepolia and Holesky. Additionally, there is a learning program with tutorials on developing NFTs, implementing Web3 loyalty programs, and securing digital assets with multi-party computation (MPC).
Google has been making significant strides in the Web3 industry with recent developments. Users can now search wallet balances across multiple blockchains, including Bitcoin, Arbitrum, Avalanche, Optimism, Polygon, and Fantom. Google updated its advertising policies at the beginning of 2024, allowing certain crypto products, such as Bitcoin exchange-traded funds (ETFs), to be advertised on major search engines. Preparations for the Web3 portal launch began last year when Google Cloud integrated its BigQuery data warehouse with MultiversX, enabling Web3 projects and users to leverage data analytics and artificial intelligence tools within the Google Cloud ecosystem.
In September 2023, Google’s BigQuery expanded its data warehouse to include 11 blockchain networks, including Avalanche, Arbitrum, Cronos, Ethereum’s Görli testnet, Fantom, Near, Optimism, Polkadot, Polygon’s mainnet, Polygon’s Mumbai testnet, and Tron. Earlier this month, Google filed a lawsuit against two individuals from China, Yunfeng Sun and Hongnam Cheung, for using the Google Play store to deceive people into fake crypto investments. Google deactivated 87 fraudulent apps associated with Sun and Cheung over the past four years, collectively garnering nearly 100,000 downloads worldwide. The company seeks a permanent injunction against the defendants and claims damages exceeding $75,000.
Overall, the launch of Google’s Web3 portal has been met with a mixed reception in the cryptocurrency industry. While some expressed disappointment over the lack of native support for Bitcoin and the Lightning Network, others welcomed the platform as a comprehensive resource for blockchain developers. Google has been actively making strides in the Web3 industry with recent developments, including allowing certain crypto products to be advertised on major search engines and expanding its data warehouse to include various blockchain networks. The company also recently filed a lawsuit against individuals from China for fraudulent crypto activities on the Google Play store, signaling its commitment to combating bad actors in the industry.
