Google Boosts Its Bitcoin Services in the Cloud
Voltage will use Google Cloud to better serve its clients all around the world as a result of this partnership.
With a market cap of $225 billion, Google Cloud is one of the largest cloud and data service providers in the world, and it has lately shown interest in Bitcoin.
Through its relationship with Voltage, an infrastructure provider that focuses on the Bitcoin Lightning Network, Google Cloud hopes to increase the worldwide reach of its Bitcoin-based services while also helping Voltage grow its business.
Voltage will use Google Cloud to better serve its clients all around the world as a result of this partnership. Voltage CEO Graham Krizek said the company’s largest clients need nodes installed in particular locations like the United Kingdom and Asia.
Google, on the other side, may use Voltage as an outsourced Bitcoin and Lightning team to assist businesses that are looking to incorporate these technologies into their offerings.
Google’s increasing familiarity with Bitcoin and Lightning is shown by the attention paid to the news of the cooperation across social media platforms.
There is more at stake than just curiosity in this partnership. Also, unlike Apple, Google isn’t closed off to new ideas when it comes to Lightning. Apple has shown its distaste for Lightning by removing Damus, a decentralised social media system that supports Lightning, from the App Store.
Calicott speculated that the IT industry, especially the payment services sector, was warming up to Lightning.
Google Cloud is able to use Alphabet’s global infrastructure since it operates under the parent corporation.
Google Ventures (GV), Google’s investment arm, has shown significant enthusiasm for blockchain technology, Web 3.0 businesses, and Bitcoin since 2020.
In 2021, GV invested in a $6 million seed round for Voltage, demonstrating the industry’s rising popularity.
Despite Apple’s efforts, Lightning’s adoption rate among multibillion-dollar companies is rising. Major cryptocurrency exchanges like Binance and Coinbase have announced Lightning implementations and one of Mexico’s top enterprises has begun testing with Lightning.
Even though it’s still early in the adoption process, experts like Calicott stress the need of keeping an eye on how quickly it spreads. With his knowledge of the Bitcoin industry since 2012, Krizek highlighted the relevance of the alliance.
Increasing interest and demand have caught the attention of businesses as they learn more about Bitcoin and Lightning.
According to Krizek, additional services will be introduced shortly, and Bitcoin education initiatives will follow suit.