Google is planning to use blockchain-like technology to support its cloud offerings by using a digital ledger to ensure transaction security, Bloomberg is reporting.
Blockchain technology has been on the rise recently due to how it can ensure that a transaction remains secure by using what is known as a "digital ledger."
In short, every computer connected to the specific blockchain network has a copy of the digital ledger, which records transactions. This is updated every time a transaction occurs and is very difficult to change after the fact, making it more secure than traditional offerings.
While this type of technology is mostly used by cryptocurrencies such as Bitcoin, Google could use it to ensure users that their data is safe on the company's cloud. It's been exploring blockchain and other digital ledger platforms and, according to Bloomberg, is now developing its own which will differentiate it from its rivals -- in this case, IBM and Microsoft, both of which are heavily investing in blockchain.
Blockchain is increasingly emerging as a technology that could be as game-changing as machine learning. (Image: Wikimedia)
As well as developing its own digital ledger, Google has also been acquiring multiple blockchain startups, with many of the acquisitions not being disclosed. Many other startups are trying to get ahead of the game and have been investigating how blockchain could be used for general-purpose computing such as web browsing, but staying ahead of Google will take some doing.