According to a recent blog post, Google Cloud, one of the world’s largest and most innovative technology companies has entered into a collaboration with Celo, a mobile-first proof-of-stake layer 1 blockchain protocol.
In the official blog post featuring the announcement, it is highlighted that this new partnership aims to support sustainability-focused startups within the Celo network. Furthermore, it intends to provide startups with the required resources and support to build and scale Web3 applications that would prioritize environmental sustainability.
The Celo Foundation in its blog post counts on the recent partnership to primarily focus on several key areas, such as reducing energy consumption, minimizing carbon footprints, and promoting sustainable business practices.
Moreover, the listed priorities and aims are to be achieved by leveraging Google Cloud’s expertise in cloud computing and sustainable technology and the Celo Foundation’s experience in blockchain and decentralized finance (DeFi).
Additionally, Google Cloud is going to provide credits for its Cloud and Firebase usage to founders building on the Celo platform. This will give startup founders access to Google Cloud’s privileged infrastructure and services at a reduced cost, boosting them to build and scale applications more efficiently.
Xochitl Cazador, Celo Foundation’s Head of Ecosystem Growth, has counted on this partnership to help developers and founders of Web3-based startups. He stated:
Our partnership with Google Cloud will help developers and Web3 founders building on the Celo blockchain build and scale their applications on the industry’s cleanest cloud.
Additionally, the blog post stated that the Google Cloud core team will guide the Celo Foundation’s founders in the Residence program, designed to support early-stage startups building on the entity’s platform.
Notably, Google has been exploring the potential of blockchain technology and its applications for several years. The tech giant has also been directly involved in various projects related to blockchain and cryptocurrencies.
However, this recent move comes in succession to Google’s executive’s statement from last year when Richard Widmann, the head of the strategy for Google Cloud indicated that Google shares the decentralized and open-source development principles of the cryptocurrency community. He said Google was evaluating the possibility of creating a “bridge” between Web3 businesses and blockchain by providing them with the necessary Node services via Google Cloud.
In 2019, the tech giant partnered with blockchain analytics firm Chainalysis to provide improved data analytics and security solutions to crypto companies. The partnership aimed to help financial institutions and law enforcement agencies detect and prevent money laundering using blockchain technology. Furthermore, Google partnered with blockchain firm Digital Asset in 2018 to track and verify the supply chain of goods.
It is important to note that Google’s recent partnership marks a remarkable step for the larger Web3 community to bring their dream blockchain projects to reality. There have been numerous businesses around Web 3 which have failed due to respective reasons. In November, the International Business Machines Corporation, an American multinational technology corporation, and Maersk, a Danish logistics firm, decided to terminate their blockchain project. In 2018, the firms collaborated to develop a blockchain-based supply chain, “TradeLens”; however, they decided to discontinue it, citing a lack of global industry collaboration.
Additionally, Google’s involvement in the Web3 and crypto space highlights its recognition of the potential of the industry and the underlying technology and its further commitment to contribute to the technology through new applications and use cases.