Google to develop blockchain-related product

To compete with start-ups, Alphabet Google is developing a blockchain-related product.

Bloomberg has announced that tech giant is creating its own distributed digital ledger for its cloud business and for other groups to use for verifying and posting transactions.

The company is said to have had several people in Google’s infrastructure group working towards blockchain protocols over recent months.

A Google spokesman said to Bloomberg: “Like many new technologies, we have individuals in various teams exploring potential uses of blockchain but it’s way too early for us to speculate about any possible uses or plans.”

Amongst other tech giants, IBM and Microsoft have led the way, offering blockchain-related tools, as well as letting other companies use its digital ledgers via their cloud services.

Written by Leah Alger