Google is getting into the blockchain business by creating a line of blockchain-related technologies to work with its various online services. Blockchain technology is used to power cryptocurrencies such as Bitcoin, but Google isn’t working on a new cryptocurrency.
The company is currently working to create its own digital ledger that the company could internally use for a variety of purposes, such as helping to secure customers’ personal data, Bloomberg reported. Beyond internal use, Google is planning to distribute its ledger to third parties so that they can use them to post and verify transactions. Additionally, Google is planning on creating a white label version that other companies can use on their own servers.
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