Alphabet Chief Executive Officer Sundar Pichai made his first public feedback on Web3, saying he’s watching the blockchain house and taking a look at how Google’s father or mother firm can add worth to growth of the expertise that is being embraced by a lot of his Silicon Valley friends.

“Any time there is innovation, I find it exciting,” Pichai mentioned on Tuesday in response to a query in regards to the expertise on Alphabet’s earnings name. “I think it’s something we want to support the best we can.”

Investors have plowed cash into corporations engaged on Web3, a imaginative and prescient of the web mannequin constructed round cryptocurrencies and digital possession. Many different expertise corporations, resembling Block, Meta, and Twitter, have embraced this fervour with plans for funds, cash or providers that incorporate digital tokens. Google has largely stayed quiet on the subject.

“We are definitely looking at blockchain,” Pichai added. “It’s such an interesting and powerful technology with broad applications.” He cited a current announcement Google’s cloud division made to win extra contracts with corporations engaged on “digital assets.” Google has additionally began its personal crew engaged on blockchain. Pichai did not point out cryptocurrencies, which the corporate presently does not settle for for its advertisements or funds service.

Many Web3 evangelists place the nascent expertise as an antidote to centralised web suppliers like Google. Pichai made his feedback after Alphabet posted greater than $20 billion (roughly Rs. 14,958 crores) in revenue through the vacation quarter from its secure of internet properties.

On the decision, Pichai touted Google’s investments in augmented actuality, noting plans to carry key providers like Maps and YouTube into no matter digital worlds folks might use sooner or later. He did not point out any work on gadgets.