Social and institutional adoption are two of the most important drivers that can push the digital asset sector. In this case we have the adoption of a private institution, which can significantly feed other smaller companies and social adoption.
Google has just partnered with Coinbase to accept cryptocurrency payment for its on-cloud services. That is a long-term strategic move for both of them. It’s also a good move for Google in its war for on-cloud services with Amazon web services, as Coinbase will take some of its services to Google’s cloud.
I don’t think Google takes decisions lightly. Nor do I think that this announcement is a coincidence with that of its new version of Looker, its business intelligence platform:
The world’s largest internet company partners with the world’s second largest exchange, to position itself in the world’s largest startup market.
Well, it makes sense.
In the crypto world, if there is one thing that is handled, it is data. Huge volumes of data. This is what it has to be a transparent, global and peer-to-peer system. Google understands this, and accepts it. For this reason, his Business Intelligence platform has to adapt to the new times. I don’t know if they want to or not, it doesn’t matter, if they are cryptofriendly or not, it’s just unstoppable.
Although the announcement took its toll on Coinbase shares which soared 4.7% to $70, the impact of this announcement cannot be seen through close-up glasses.
Google cloud is Google’s fastest growing service by far ($25 billion in revenue in 2Q). They have applied Machine Learning AI to incorporate 24 new languages. According to their own data (provided during the world presentation of their new cloud services conference), 84% of companies are going to use AI in their processes. That’s why they are also betting heavily on AI technologies. One of its star services is prediction models using AI.
When you analyze the global presentation of their cloud services, you realize that they talked more about AI than anything else. How they have used it to make a real reproduction of the sun or observe the dark side of the moon, to do 3d recreations of people that allow their avatars to obtain a hyper-realistic representation, …
Which in the end is used to hold online meetings as if you were in the same room:
For me, the news is not if Google accepts crypto as a payment method. The 4th largest company in the world in market capitalization, the third in the technology sector, and the first in internet services
is telling us that the technological future goes through Blockchain + AI.
So humbly, from our small competitive space of innovative investment funds, I believe that in Belobaba we are betting well on both disruptions.
We are just where we want to be.
Yours in crypto.