Alphabet “failed to be on the bleeding edge” when it came to blockchain, President and Google co-founder Sergey Brin said at a Blockchain Summit in Morocco this weekend. The blockchain market has been largely dominated by startups so far, though larger tech giants like IBM, Facebook, and Microsoft have added groups to focus on the technology. Google has also reportedly started working on its own distributed ledger technology for ways to verify transactions or use inside of its cloud business.
While it’s fairly clear that Google hasn’t yet carved a niche for itself in the blockchain market, this report also suggests that it might look to get more serious. Mr. Brin reportedly hinted that blockchain would be a natural fit for X, Alphabet’s research division that often leads to the spinout of new companies. That could mean that we see more blockchain investment from Google. But the question remains if the push comes too late to ride the hype around the technology and capture a serious amount of the market.