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Many of the critics believe that Blockchain is the next big thing in the market. The level of its consciousness has reached a point where conferences are organised on Blockchain. There will be a Blockchain conference in San Francisco by which Coinstaker is offering one free ticket.

It is absolutely true that Blockchain is going to bring in a revolution but we have to see how effective it actually turns out to be. Google, on the other hand, is showing a lot of interest in blockchain technology. It believes that it can help grow their business a lot and not only Google but also other businesses like PayPal are also looking forward to this new technology.

How secure is the Blockchain?

The primary objective behind familiarising with this technology for any digital ledger is the same and that is the security for every transaction through the internet. We can see the rapid increase in competition with the advent of day to day startups using the very same and productive technology. When it comes to Google, then we are quite sure that it holds a record of the greatest ever number of clients or users. No one would like to risk such a colossal database. Even after so many advantages, there are investigations going on to meet the requirements as per the potential of the technology. Blockchain can keep track of any sort of transactions or any supply chain as well.

Why is Google working on a Blockchain-related Technology?

Google believes that this new technology can support their cloud business to a huge extent. The blockchain is used by many of the companies for recording transactions securely and for processing other kinds of data available all around the internet. This is a service which is surely going to help Google. As for example, Google could use this service to make their customers believe more in them about the fact that their information stays protected when they upload in the Google Cloud. There is a huge network of servers that help the cloud services to work the way it is supposed to work. Blockchain will be just another big addition to whatever security they already have.

One of the most significant investors in this hugely hyped technology is Google’s Parent company. No doubt Google has a good record of getting involved in any of the latest developed Technologies sooner than any other Tech Giants. Talking about Google Cloud business we know very well that it has the capacity to engineer the most intensive data works with flexible ease. In addition to it, the price is pretty economical in every aspects of freedom, predominantly the service in return. A closer insight will show you that blockchain has two alterations. One is private and the other is public. As the name suggests public blockchain are those which can be accessed by any member of the consensus where is private version is restricted to certain users.

Google Thinks That Blockchain Has A Huge Potential

Whenever a new technology comes in, there are many of the Google individuals try to find out the potential uses of that technology and they are doing the same about blockchain. Blockchain technology keeps growing backed by governments and enterprises. It cannot be determined how it can be used so early, but it is being anticipated that there is a lot of potential in Blockchain for Google. As per the latest record that has been predicted based on certain stats the companies or the firms that have not started dealing with business trades related to blockchain are subject to greater market risk for getting engrossed in fraudulence. The root causes it the security of its data.

The blockchain is efficient enough to dissuade the business economy in the coming era. In fact, if you look at the United States or even capital markets from Europe then they are also heading up towards platforms backed up by blockchain. The CEO of Northwest passage ventures had told that there is no such system which cannot be hacked despite the fact blockchain is the application of scientific knowledge but most secured ever. It is next to impossible to hack the blockchain as because getting control over a single system is not enough one must have control over all the systems in the node in order to hack the system.

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