On Tuesday, two blockchain development firms announced new partnerships with Google Cloud: BNB Chain and ZetaChain. BNB Chain received $10 million for its MVB Program, and Google Cloud will validate ZetaChain’s mainnet and testnet.

These simultaneous and similar actions suggest Google Cloud’s interest in the blockchain development sector.

Google Cloud’s Blockchain Investments

In a pair of independent announcements, Google Cloud is undertaking new partnerships with two blockchain firms: ZetaChain and BNB Chain. BNB Chain, Binance’s blockchain ecosystem, received funding from Google Cloud for its Most Valuable Builder (MVB) Program, but the press release did not disclose an amount. A separate social media statement, however, did:

“Exciting news! Google Cloud is investing $10 million in credits for MVB projects building on BNB Chain. Through this collaboration, up to 40 MVB projects building on BNB Chain will be eligible for up to $350,000 in Google Cloud credits for AI-focused projects, and $200,000 for other Web3 initiatives over two years!” the statement claimed.

In other words, Google Cloud will not have an active working relationship with BNB Chain in the immediate future; it’s just deploying funds. However, these assets will greatly assist large numbers of independent smaller developers, contributing to overall blockchain innovation. This strategy is similar to Aethir’s recent AI cloud development Ecosystem Fund.

ZetaChain, on the other hand, is engaging in precisely this type of ongoing partnership. It claimed that Google Cloud would become a validator for Zeta, securing its mainnet and testnet environments.

This agreement will involve delegating 1 million ZETA tokens to five Google validators. Despite the announcement, the price of ZETA has been down by 5.89% in the past 24 hours.

Google Cloud also agreed to act as a validator for MANTRA in late October, but Google hasn’t publicly engaged in new blockchain investments since this April.

By announcing these two partnerships on the same day, Google Cloud might be signaling a new interest in this tech sphere. Richard Widmann, Head of Web3 Strategy, Google Cloud, alluded to this:

“At Google Cloud, we’re committed to empowering developers with the tools and infrastructure they need to build the future of decentralized applications. Our secure cloud infrastructure and validator capabilities will help ZetaChain grow its Universal Blockchain and unlock interoperability for Web3 developers,” Widmann said.

By specifically naming concepts like the future of dApps and Web3 interoperability, Widmann is focusing on the long-term development ecosystem. The $10 million dollar investment paid out to small developers in BNB Chain’s MVB Program also echoes this broader vision. These two actions can help seed future blockchain innovation.

Source : BeInCrypto - Nov 13, 2024