Google failed in blockchain technology | Finance and Markets

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Google has failed to become a leader and visionary in blockchain technology. This confession was made by President of Alphabet and co-founder of Google Sergey Brin at a blockchain conference in Morocco.

“Perhaps we have already failed to be the leaders if I have to be honest”, said Sergey Brin.

In fact, the market is now dominated by start-ups, although large technology companies like IBM, Facebook and Microsoft are increasingly committed to database technologies where users and suppliers are directly involved in a deal.

“Google now intends to catch up with its shortcomings”, adds Sergey Brin, explaining that the secret research unit of Alphabet Google X deals with the topic.

According to media, Google will soon invest in blockchain companies. The question, however, is whether these intentions are too late for Google to become a leader in the sphere and to take a significant share of the market.

As for his personal interest in the blockchain and digital currencies, the co-founder of Google admits he does not know “a lot of things about cryptocurrency projects”, but an amateur mining team created by his son raised his interest.

“An year or two ago, my son insisted that we had to buy a gaming computer”, said Sergey Brin. “I told him that if we buy such a computer, we had to mine cryptocurrencies, so we started out with Ethereum and we’ve earned a lot of dollars since then. I am definitely interested in learning about the technology behind it, and it seemed overwhelming”, added he.