Google Hires Former BlockFi Executive to Work on Web3

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• Google (NASDAQ:GOOGL) hired former BlockFi vice president Rishi Ramchandani
• Google’s cloud service aims to provide tools and infrastructure for Web3

Google is ramping up its efforts to become a major player in the decentralized web. To do that, the tech giant is looking for talent wherever it can find it. A former executive from the crypto-lending firm BlockFi will lead Google Cloud’s efforts on Web3.

Rishi Ramchandani, the former vice president of BlockFi, will become Google’s Web3 Lead for the Asia-Pacific region. Mitesh Agarwal, the Managing Director at Google Cloud announced the news on Wednesday.

"Excited for the next step in my career! I look forward to growing Google Cloud's Web3 efforts in APAC and working with the great people there," said Ramchandani. Ramchandani held his position in the now-bankrupt crypto-lending firm from June 2020. BlockFi filed for bankruptcy last month, shortly after the collapse of the crypto exchange FTX. The crypto lender had significant exposure to FTX.

Earlier this year, BlockFi narrowly avoided bankruptcy after the collapse of 3 Arrows Capital. It did so largely thanks to a $250 million loan from FTX.

Google and Web3

The hire signals that Google may be looking to expand its cryptocurrency offerings in the near future.

Currently, Google Cloud offers tools and infrastructure for Web3. The tech giant advertises better scaling and easier development of Web3 services on its platform.

Back in October, Google launched the Blockchain Node Engine, a cloud-based node engine for Ethereum developers. The tech giant has multiple partners in the Web3 space, including on-chain analytics firm Nansen.

On the Flipside

• As a tech company, Google is incentivized to appear at the cutting edge of technology. However, it is not clear if Google has the incentive to build decentralized technology solutions.

Why You Should Care

The latest hire shows Google is serious about becoming a major player in the decentralized web. This could mean we can expect more Web3 products and services from Google Cloud in the near future.

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See original on DailyCoin