Google Cloud's recently announced a partnership with infrastructure provider Voltage, unveiling a new trajectory for the tech giant's Bitcoin and Lightning ambitions.
The agreement will enable Google Cloud, a $225-billion data and cloud service, to extend Bitcoin-related services worldwide while assisting Voltage's global operations expansion.
The collaboration sees Voltage functioning as Google's outsourced Bitcoin and Lightning team. Voltage CEO, Graham Krizek, explained that the infrastructure provider will facilitate Bitcoin or Lightning integration for companies interested in these services via Google.
The deal has not only generated substantial social media interest but also signals Google’s evolving recognition of Bitcoin and Lightning's potential. This increased attention isn't isolated within Google alone, but industry-wide. Christopher Calicott, managing director of venture capital firm Tramell Venture Partners, suggested that any corporation adjacent to payments "would ignore Lightning at their peril."
Google Ventures Fueling Bitcoin MomentumGoogle's interests in blockchain, Bitcoin, and Web3 companies have been increasingly apparent since 2020, primarily via Google Ventures (GV), its investment arm. Voltage benefited from GV's interest, receiving participation in a $6-million seed round in 2021.
This significant financial backing is seen as an indication of the rising momentum for Bitcoin and related technologies. Calicott pointed out that when companies invest, it sends a potent signal of their focus, adding weight to the Bitcoin and Lightning narrative. Krizek concurred, stating that the partnership is indicative of an increased Bitcoin focus strategy within larger organizations, including Google.
Despite its competitor, Apple, showing an aversion to Lightning by recently delisting Damus, a Lightning-friendly decentralized social media protocol, the Lightning Network is gaining traction among billion-dollar businesses globally.
Both Binance and Coinbase, two leading crypto exchanges, have recently committed to Lightning integrations.
Google Cloud's partnership with Voltage marks a significant step towards further integrating Bitcoin and Lightning technologies within the wider tech industry. With the growing corporate interest and investment in these areas, the expectation for further services rollout, along with expanded efforts in Bitcoin education, continues to rise.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
