Amid ongoing regulatory concerns, it has been observed that several tech giants across the globe are taking significant steps in the realm of blockchain technology. Earlier, companies such as MasterCard, Google, Visa, and many others entered this rapidly evolving industry.
MultiversX & Google Cloud Join Forces for Blockchain Growth
Recently, Google Cloud once again made a partnership with MultiversX, a blockchain infrastructure firm (formerly known as Elrond) to enhance its Web3 presence. As a part of this collaboration, MultiversX has been integrated into the Google Cloud Platform, providing and helping users access powerful data analytics and artificial intelligence tools.
MultiversX claims that this partnership has the potential to facilitate the execution of large-scale data-first blockchain projects. Developers will benefit from this as they have easier access to data related to addresses, transacted amounts, smart contract interactions, and enhanced on-chain analytics.
Google Cloud’s involvement in the MultiversX network will allow ecosystem builders to utilize advanced tools and services to enhance the performance and scalability of their decentralized applications’ non-blockchain components. Daniel Rood, Head of Web3 EMEA at Google Cloud, made a statement that:
“Our partnership with MultiversX will allow us to expand our strategy and solidify our position as a key innovator in the blockchain world.”
MultiverX’s major collaboration promoting web3 space
MultiversX has a history of partnering with global brands to promote Web3 use cases in the traditional world, including the first one with the European institutional marketplace for digital assets, ICI D|SERVICES, and Audi’s in-car virtual reality platform, holoride.
These partnerships not only strengthen Web3 but also show the interest of tech giants in the realm of web3 and blockchain space.
It has also announced new scalable features for its decentralized digital asset wallet, xPortal SuperApp, which will allow users to manage their both fiat and cryptocurrency transactions, including peer-to-peer fiat payments and access to European IBANs, SEPA, and SWIFT by early 2024.
Additionally, they have also launched the xWorlds Developer Kit, providing creators with tools to build augmented reality experiences using xPortal as a wallet and distribution hub, including AI-powered 3D avatars.
Strengthening Blockchain with Google Cloud and MultiversX
This collaboration between Google Cloud and MultiversX is assured to advance Web3 technology and expand opportunities for developers in the realm of blockchain.
However, as reported by Todayq News on September 30, 2023, Google Cloud also partnered with Polygon Network as a validator. The primary objective of this collaboration was to create better security and credibility in this rapidly evolving crypto ecosystem.