Google Cloud Debuts Web3 Portal Amid Varied Crypto Community Reactions

Google Cloud has recently launched its Web3 portal, providing blockchain developers with valuable resources including datasets, tutorials for creating non-fungible tokens (NFTs), and tools for deploying decentralized applications (DApps). Despite the potential benefits, the new platform has received a mixed reception from the cryptocurrency community.

Critics, like Phil Geiger, vice president of product marketing at Unchained, have pointed out the portal’s lack of native support for Bitcoin and the Lightning Network, highlighting it as a significant oversight given Bitcoin’s prominence in the crypto market. Others in the community, such as the crypto trader known as MartyParty, feel that Google is not keeping pace with industry developments.

Conversely, some industry members have praised the initiative. Ivaibi Festo, founder of Mitroplus labs, referred to the portal as a “comprehensive resource,” indicating a positive view of its potential to support Web3 development. The portal not only offers educational content but also provides practical tools like testnet tokens for DApps on Ethereum testnets and features for securing digital assets.

Google’s engagement with the Web3 space includes several recent enhancements, such as the ability to search wallet balances across multiple blockchains and updated advertising policies that now include crypto products like Bitcoin ETFs. Moreover, the integration of Google Cloud’s BigQuery with MultiversX last year has expanded data analytics capabilities across 11 blockchain networks, further embedding Google within the Web3 ecosystem.

In a broader context, Google has also been active in combating fraudulent activities related to cryptocurrency. A recent lawsuit filed by Google targets individuals involved in using the Google Play store for crypto-related scams, reflecting Google’s commitment to maintaining platform integrity and safeguarding users.

The launch of Google Cloud’s Web3 portal represents a significant step in supporting the blockchain development community, though it also highlights the ongoing challenges of meeting diverse user expectations in the rapidly evolving cryptocurrency landscape.