Google is hiring veteran exec to head its blockchain unit

A newly appointed executive who has spent more than a decade on the company's core business is Google, which is forming a group dedicated to the blockchain and related technologies.

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The executive will become the founding leader of Labs, a business division in which Google has its various virtual and augmented reality efforts, according to the email. A company spokeswoman wouldn't say anything.

Google has offered cloud services to companies working on the technology of the digital ledger. Google, a company known for its experimentation, hasn't launched public projects in the area where some rivals, such as Meta Platforms Inc. and Twitter Inc., have devoted considerable resources.

Google's payments and commerce president recently said that the company pays a lot of attention to cryptocurrencies. In the fall of last year, Google placed the groups working on its virtual reality hardware and software efforts into Labs under Clay Bavor, a vice president who oversees the company's startup incubator. At the time, Google described Bavor's work as focusing on long-term technology projects that are in direct support of our core products and businesses. A person familiar with the company said that the unit working on the block chain is relatively small compared to Google's other product areas.

Venkataraman, a veteran of Google's search advertising team, has previously published research on the company's techniques for distributed computing, or tying large numbers of machines together in networks.

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