Under a newly appointed executive who has spent more than a decade on the company's core business of search advertising, Google is forming a group dedicated to the technology of the blockchain and related technologies.
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According to the email, the executive will become a founding leader of Labs, a business division in which Google houses its various virtual and augmented reality efforts. A company spokeswoman wouldn't say anything.
Some cloud services are offered by Google for companies working on the technology of the ledger. But otherwise Google, a company known for its experimentation, hasn't started 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, Google placed the groups working on its virtual reality hardware and software efforts into Labs under Clay Bavor, a vice president who also oversees the company's startup incubator. At the time, Google described Bavor's work as a focus 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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