Although Web3 applications are still not fully fledged technology, more and more players are joining in to become early proponents of the new and emerging technology. Google’s cloud group has formed a team who will build services that will facilitate developers to build Web3 applications. Blockchain technology is in its early development stage and Google is planning to offer back-end services as it seeks to expand its market share.

In an interview with CNBC, Amit Zavery, who is a vice president at Google Cloud, said that they would not be a direct part of the cryptocurrency wave. Instead, they would provide technologies that companies could use, to take advantage of Web3’s distributed nature in their “current businesses or enterprises.”

Google is increasing its commitment to blockchain technology by building an in-house team. The outlet said that the tech giant was expected to build a system which could be used by companies to make blockchain data easy and people could explore this technology.

The system could also simplify the method by which blockchain nodes are built and run. These nodes are essential to validate and record transactions using blockchain technology. The vice president also said that the tools developed by Google would be compatible with different computing environments including rival Amazon Web Services.

Although cryptocurrency including Bitcoin is no longer considered by many as an investment due to risks involved, the technology behind it is increasing its footprint in mainstream. Many industries including finance and retail have been exploring Web3 and are informing analysts and investors of the same.

Recently CEOs from both Nike and Warner Music confirmed their interest in Web3 as the future and mentioned that they would be building products and experiences in Web3. Google Cloud Service’s Web3 team is looking to tap into the requirements of non tech companies by offering technical services related to blockchain technology.