Google follows in the footsteps of Amazon and IBM and opens blockchain testing services

Google Cloud will open a blockchain technology testing service for banks. In fact, IBM, Microsoft and Amazon have already launched similar services since last year to please their customers.

Consulting firm GFT said that the Royal Bank of Scotland (RBSG) has confirmed that it will use Google servers to test the application of blockchain in clearing and settlement. In addition to the bank, other banking partners of Google have also expressed their intention to use its cloud servers for blockchain research.

So far, IBM and Microsoft are the most active IT giants in the blockchain industry. They have launched special development tools and invited banks and startups to test the emerging technology of blockchain in their large-scale data centers. Amazon, a leading cloud service company, has also maintained close cooperation with blockchain startups.

Blockchain is a distributed ledger that allows companies, such as banks, to securely record transactions. Its advantage is high trustworthiness: it is difficult to reverse or change transaction records. While promoting trust and innovation, the technology can also bring greater efficiency to multiple industries and reduce costs in various areas such as cross-border transfers or payments.

As companies in finance, supply chain, healthcare and other industries step up their research into blockchain, they are also creating potential opportunities for cloud service providers, as it is easier and faster to test blockchain technology in the cloud than on a bank's in-house computers.

If these tests are successful, cloud service providers will play an important role in the deployment of blockchain solutions, because data sharing and management between multiple companies is easier to achieve in the cloud. According to research, the value of the public cloud service market this year could rise from 1750亿美元last year to 2040亿美元.