Google is launching a new blockchain division as part of its Labs group. According to Bloomberg, the new unit will focus on “blockchain and other next-generation distributed computing and data storage technologies.”
The new division will be directed towards experimenting with these decentralized technologies under the supervision of the Labs group, which is an experimental division that bundles AR and VR efforts and other potential projects in the technology area. In addition to also including an internal incubator for projects, called Area 120.
Last year, the company partnered with Bakkt, a digital platform, to allow users to spend cryptocurrencies using their card on the Google Pay platform.
Google also recently announced that it was hiring a former Paypal executive as part of an effort to add new services to its platform, including cryptocurrencies.