Google Cloud is putting together a team of blockchain experts to create a business around blockchain applications for healthcare, retail and various other industries, CNBC reported Jan. 27.
Richard Widmann, Google's head of strategy for digital assets, told CNBC that the company is getting ready to hire a round of talent with blockchain expertise to capitalize on the blockchain market.
The concept of decentralization through blockchain has gained popularity in recent years. For example, blockchain can help businesses cut out middlemen in financial transactions by replacing intermediaries with a programmable code written on a public blockchain. When conditions are met, the blockchain can execute actions.
Google's cloud marketplace already offers a slew of tools developers can use to build blockchain networks, but the tech company wanted to start offering services to blockchain developers directly.
Google's blockchain program is not healthcare-specific, but will target several sectors including healthcare, retail and manufacturing, as those sectors have invested in blockchain technology.