Google formed a blockchain business unit and appointed core executives to lead the team

IT House January 20 news, according to Bloomberg news, Google is forming a team focused on blockchain and related technologies, led by a newly appointed executive. The executive has worked for more than a decade in the company's core business, search advertising.

An email showed that Shivakumar Venkataraman, vice president of engineering at Alphabet-owned Google, is currently managing a division focused on "blockchain and other next-generation distributed computing and data storage technologies."

The executive will be the "founding head" of Labs. Labs is Google's various virtual reality and augmented reality project divisions. IT House understands that a spokesperson for the company declined to comment on this.

So far, Google has provided some cloud services for blockchain technology companies. But beyond that, Google, known for its experimentation, has yet to launch public projects in this area, and competitors such as Meta and Twitter have invested heavily in resources.