Google Cloud Announces Bitcoin Lightning Services In Partnership With Voltage
Bitcoin’s Lightning Network is gaining massive attraction among traditional tech companies, with Google Cloud the latest to join the network. With its enormous resources and $225 billion valuation, the popular cloud and data service platform has partnered with Voltage, the Bitcoin Lightning Network solutions provider.
Google Cloud To Offer Lightning Services
The world of cryptocurrency is set to witness a significant development as Google Cloud strikes a strategic partnership with Voltage. The collaboration is essential given that the former is one of the leading global cloud computing solutions providers, and the latter is an infrastructure provider specializing in the Bitcoin Lightning Network.
Furthermore, this collaboration holds immense promises for the sector, enabling Google Cloud to extend its reach into the Bitcoin and crypto space. Also, it supports Voltage in expanding its operations globally.
With its enormous resources, innovative technologies, and a $225 billion market valuation, Google Cloud is poised to significantly impact the adoption and integration of Bitcoin-based services across the globe. Through this partnership, the firm aims to leverage its expertise in cloud computing to facilitate the seamless rollout of cutting-edge Bitcoin solutions.
Thus, it can meet the need of diverse industries and sectors. Voltage will offer its specialized knowledge and infrastructure about the Bitcoin Lightning Network.
With Google Cloud as a partner, Voltage can capitalize on the tech giant’s extensive user base and credibility to further expand its operations. Additionally, this collaboration allows Voltage to tap into new markets, attract a broader client base, and enhance its overall capabilities in supporting the Lightning Network ecosystem.
Together, the two parties aspire to drive the widespread adoption of Bitcoin and unlock its full potential through scalable, efficient, and secure solutions. By combining their respective technologies, they aim to empower businesses, developers, and individuals to embrace the benefits of Bitcoin’s Lightning Network, such as near-instant transactions, low fees, and increased scalability.
According to Voltage’s CEO, Graham Krizek, the company will leverage Google Cloud to offer its services to the global community. On the other hand, Google will leverage the Voltage network and act as their external Bitcoin and lightning task force.
Krizek added that Voltage also assists companies in integrating Bitcoin or Lightning into their services.
Rising Corporate Adoption of Lightning Technology
Following the announcement, the crypto community on various social media platforms has expressed their delight at the development. The recent move suggests that Google has changed its previous stance about the usefulness of Bitcoin and the Lightning network.
However, the impact of the recent collaboration extends far beyond surface-level observations. Meanwhile, Christopher Calicott, the managing director of Tramell Venture Partners, opined that some people believe that the recent social media engagement was a backchannel move by Google to draw people’s attention.
However, Google’s progressive stance on Lightning starkly contrasts that of its rival, Apple. In a recent move, Apple reportedly removed Damus, the decentralized social media protocol that supports Lightning, from its App Store, indicating an evident reluctance towards embracing the innovation.
Calicott explained that the shift in dynamics within the tech industry suggests that there may be a growing acceptance of Lightning technology by institutional players in the tech space. As a part of Google’s products and services, Google Cloud is also a subsidiary of Alphabet (the parent company).
Furthermore, the widely-used payments platform, Google Pay, has recorded an increased user base of over 15 countries spread around the globe. In addition, Google Ventures (GV), the investment division of Google, has demonstrated a strong inclination towards backing blockchain, Web3, and other Bitcoin-related enterprises.
Despite their unacceptance by Apple, Lightning-based products continue to gain widespread adoption among other traditional tech firms and billion-dollar enterprises globally. For instance, a prominent Mexican corporation has embarked on Lightning experiments. Industry giants Binance and Coinbase recently pledged to integrate Lightning into their platforms.
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