Google Cloud and Coinbase have joined forces to accelerate the Web3 ecosystem by launching a new crypto payments pilot programme. Coinbase will build their global data platform on Google Cloud and Google Cloud will leverage Coinbase Commerce to enable crypto payments for its solutions. According to the releases crypto-based payments will become available to customers in the Web3 space early next year.
What’s in it for Google? Google will use Coinbase Commerce, a tool that lets businesses receive, accept, and convert cryptocurrencies, including Bitcoin, Ethereum, USD Coin, Tether USD, and others. Moreover, Google plans on utilising Coinbase Prime, a crypto trading platform primarily built for companies, to store and trade cryptocurrencies.
And what’s in it for Coinbase? As part of the deal, it will be moving some of its “data-related applications” from Amazon Web Services to Google Cloud. Google will also start using Coinbase Node, a tool for developers that is used to gain access to blockchains and build decentralised apps.
"We want to make building in Web3 faster and easier, and this partnership with Coinbase helps developers get one step closer to that goal," said Thomas Kurian, CEO of Google Cloud. "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.”
The world’s attitude towards crypto has evolved massively over the last couple of years: companies that were previously anti-crypto are now dabbling in it, for example, Google. In 2018 it actually banned all promotion of crypto and related content. Well, opinions change and this new partnership seems like sort of validation for the crypto industry. Bill Gates hated crypto, but now Microsoft is on top of the Forbes Blockchain 50 list together with other former non-believers. The more that large tech firms get involved in the Web3 space, the faster this technology will progress in terms of attracting users and in turn build out high-performance use cases. We continue to observe.