The Web2 and Web3 industries are known to represent two eras of technological development, with Web3 an upgrade on the unique features and capabilities of Web2. In a recent interview, the head of Web3 at Google Cloud, James Tromans, speaks on how advocates of each differentiate the two technologies.
What Critics Say About Big Tech Platforms
Some Big Tech industry analysts claim that the top players exert exploitative influence over user-generated content, online social interaction, and internet structure. Such players include Amazon, Facebook, and Google (including YouTube and Gmail, all owned by Alphabet Inc.).
On the other hand, Web3 advocates are clamoring for a total return of digital content ownership to Internet users. Web3 is a new era of the internet based on decentralized blockchain technology, the metaverse, and non-fungible tokens (NFTs).
Tromans became famous following his stint at the banking powerhouse Citi before starting his Web3 journey, focusing on trading and engineering leadership. Furthermore, he honed his data engineering and machine learning expertise at Google, building on his academic background in artificial intelligence.
Tromans took over the Web3 operations at Google Cloud in May 2022, bringing his wealth of knowledge and experience to the forefront of this cutting-edge technology.
Integrating Startups And Leading Financial Institutions Into Web3
According to Tromans, the company’s foray into Web3 has been a multi-year project that started taking shape in 2018. He added that the Google Cloud platform has expanded to a broad network of startups and established firms, including top financial enterprises.
Thus, Google Cloud has the expertise and experience of working with several startups, corporate behemoths, and established financial institutions like the Chicago Mercantile Exchange and HSBC. According to Tromans, Google Cloud aims to develop the proper modalities and other collaborative tools to ensure that corporate behemoths and established financial institutions enjoy the benefits of Web3 technology by incorporating it into their business operations.
He also revealed that the company has developed a distinct approach to managing its products by building on Google’s operational philosophy. He explained each part operates as a self-contained unit designed to function as separate business entities.
The executive added that this organizational structure of giving each product area autonomy sets Google apart from its competitors and enables such products to thrive.
Google’s Pioneering Web3 Role
Google has significantly contributed to the Web3 ecosystem through its innovative blockchain node engine. The firm’s global reach is evident in its data centers strategically located across different regions and countries, reinforced by proprietary undersea cables that supplement the public Internet infrastructure.
The executive noted that these formidable assets enrich and protect the growing Web3 landscape. One of these assets is Google’s ground-breaking node engine, a technological marvel providing unparalleled ease of access to individual developers and institutional entities.
On the interconnectivity between artificial intelligence (AI) and Web3, Tromans noted that the emergence of generative AI has diverted much attention away from Web3. According to him, this shift allows the Web3 sector enough space to evolve at its own pace.
However, the Google Cloud executive admitted that AI can transform all sectors, adding that it would reshape individuals’ work approach as it evolves. He also said incorporating AI into the Web3 sector reflects its versatile application in other industries.
One of AI’s notable transformative roles is improving code quality and making the initialization process of smart contracts seamless for blockchain developers. Its application extends to scenarios where coders can abstract concepts into executable code.
According to Tromans, it is not uncommon for software engineers to experience mental blocks. Hence, they need help figuring out where to begin at the start of a new project.
But with the help of AI, coders can easily side-step this daunting phase and create the projects of their dreams.