Google and Coinbase join forces for the future of Web3

Cryptocurrency as a means of decentralized money may be volatile and uncertain but building the future of the web on decentralized blockchain technologies is an explosively emerging market and many tech giants are jumping into the Web3 arena feet first. While Web3 encompasses a wide array of technologies and applications, the core premise is a new generation of the world wide web that is built on the idea of decentralization. That’s about as deep as I can get into the subject of Web3 before I start to lose my way but needless to say, there are a lot of people backing this technology and it could very well be the future of the web.

Back in 2018, Google didn’t seem to want anything to do with blockchain or the native currencies that fueled the technology. So much so that the company went so far as to ban cryptocurrency advertising in its massive ad network that accounts for the majority of Alphabet’s earnings. This move wasn’t intended to resist Web3 or blockchain technology but was geared more toward protecting Google’s user base from the volatile and often scam-rampant crypto ecosystem. It took more than three years for Google to reverse its ban on cryptocurrency advertising but now, the search giant appears to be fully embracing the Web3 movement and the blockchain technology behind it.

Earlier this month, Google announced a strategic partnership with the well-known cryptocurrency exchange Coinbase that will “accelerate web3 adoption and innovation.” The union will consist of four key segments.

For Google, select customers in the Web3 ecosystem will have the option to pay for Google Cloud services using cryptocurrencies through the Coinbase Commerce payment platform. Google will also grant Web3 developers to the company’s blockchain data using BigQuery. This will allow Web3 developers to operate Web3 systems without the overhead of expensive infrastructures. Additionally, Google will utilize Coinbase Prime for future institutional crypto payments and services. This is a good indicator that Alphabet is, at least, considering implementing more crypto payment options into the company’s services.

We’re proud Coinbase has chosen Google Cloud as its strategic cloud partner, and we’re ready to serve the thriving global Web3 customer and partner ecosystem. Our focus is making it frictionless for all customers to take advantage of our scalability, reliability, security, and data services, so they can focus on innovation in the Web3 space.

Thomas Kurian, CEO of Google Cloud

On Coinbase’s end, the massive cryptocurrency exchange will move its data-related applications from the long-used AWS platform to Google’s Cloud infrastructure. As a crypto payment processor, Coinbase will earn fees from transactions through Coinbase Commerce. The partnership signals a massive shift in the crypto ecosystem as tech companies prepare for the Web3 revolution. You can find more details on the new partnership in the Google Cloud Press Room.