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Blockchain / Breaking News / Crypto.IQ

Google Looking To Blockchain Technology For Audits

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Google just might be looking into making use of the revolutionary blockchain technology. This week saw Google making an announcement about two different projects, which it is planning to launch to leverage the power of blockchain technology. One of them is a clouds operations platform and the other one is a tamper-proof auditing system.

Immutable Google

For the auditing system, Google originally filed for a patent back in the September of 2017. According to the filing which was released by the US Patent and Trademark Office, Google plans to make a tamper-evident log that will have the ability to store signatures and verify that the information which has been stored has not been changed in any form or manner. If it has been changed, the system will be able to tell exactly what the nature of the change was and when it occurred.

The application which Google has filed proposes that the system will make use of 2 blockchain networks. The first will be known as the target blockchain that will be used to store the first signatures. The second blockchain will be independent, and will be used to store the data that has been verified by the target blockchain. It also mentioned that the blockchain network could very well be seen stored into either a single device or on multiple storage spaces.

Google Advertising and Blockchain Technology

Google is not just looking towards blockchain technology to make an immutable auditing system, and develop a clouds operations platform; in fact,  the senior vice president of advertising at Google, Sridhar Ramaswamy, has also separately said that the advertising is researching blockchain technology in a bid to determine whether or not they can make use of blockchain technology.

Ramaswamy was speaking at a press conference in London. He said that it is still just a research topic but they do not have much to say about the applications for blockchain technology and how it will fit into their frame of operations right now. They have a modest team working on researching the matter. He feels that the applications of blockchain technology is something which is definitely well suited for the purpose of transferring money but it is not quite scalable when it comes to the total number of transactions it can process.

In Conclusion

There are no specific dates as to when the clouds operations platform or the auditing system will come out but with Google’s announcements, we know that they are definitely in the works.

It is no doubt that blockchain technology is revolutionary. Brought about by the advent of the first cryptocurrency, blockchain technology has been revealed to be something that can have a significant impact on improving a lot of different aspects of the way we go about our day-to-day affairs.

With blockchain technology being applied everywhere from major financial institutions to the healthcare industry, blockchain technology is the modern version of breakthrough technologies like email when the internet was in its nascent stages.

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