Google Cloud is the latest company to show interest in Bitcoin (BTC) Lightning. The $225 billion cloud and data service recently partnered with Voltage, an infrastructure provider specializing in the Bitcoin Lightning Network.
The partnership will enable one of the world’s largest cloud computing providers to deploy Bitcoin-based services globally while helping to expand Voltage’s operations. Graham Krizek, CEO of Voltage, told Cointelegraph:
“Voltage leverages Google Cloud to serve its customers globally, so we have larger customers who need nodes deployed in specific geographies like the UK or Asia.”
Conversely, Google may use “Voltage as a sort of outsourced Bitcoin and Lightning team.” He said: “We serve that business for them, actually, you know, helping businesses that want to add Bitcoin or Lightning to their services.”
The announcement received considerable traction on social media and reflects Google’s growing understanding and acceptance of Bitcoin and Lightning. But above all, the implications of the partnership are deeper.
Christopher Calicott, managing director at venture capital firm Tramell Venture Partners, told Cointelegraph: “We’ve had people who were former Googlers in the backchannels … saying that this is the kind of unexpected (social media) engagement that definitely gets people’s attention at Google.” »
Additionally, Google’s open approach to Lightning is diametrically opposed to that of its competitor Apple. Apple recently removed Damus, the Lightning-compatible decentralized social media protocol, from the App Store, demonstrating a dislike for Lightning. Calicott explained that the tech world could prepare for Lightning:
“There are currently a growing and widespread number of companies tinkering with Lightning in particular. If they are close to payments, they will ignore Lightning at their peril.”
Google Cloud operates under the umbrella of its parent company, Alphabet. The Google Pay payment platform has hundreds of millions of users in more than 15 countries.
Since 2020, Google’s investment arm, Google Ventures (GV), has shown strong interest in blockchain and Web3 companies, as well as Bitcoin.
GV participated in a $6 million funding round for Voltage in 2021. For Calicott, interest from such a large player in the crypto space could be a sign of growing momentum:
“I hate to over-index on any particular company here, but to me, like anything in life, when people put their money to work, it sends a very strong signal about what they’re focused on.”
Krizek agrees: “I think this is really an important signal to enable more Bitcoin-focused strategies among Google in particular, but also just in larger organizations.”
Although Apple has removed the Lightning-compatible Damus app – much to the dismay of former Twitter CEO Jack Dorsey – Lightning continues to gain traction among billion-dollar companies around the world. One of Mexico’s largest companies has started experimenting with Lightning, while two major crypto exchanges, Binance and Coinbase, recently promised Lightning integrations.
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Still, it’s still early and “we need to watch this phenomenon as it develops,” Calicott noted. Krizek, who has seen his fair share of Bitcoin’s ups and downs, having participated in the Bitcoin space since 2012, highlighted why the partnership is important:
“As we begin to expose these organizations more to Bitcoin and what’s possible with Lightning, I think we’ve already caught their attention with the interest and demand we’ve generated.”
He added that more services are expected to be rolled out in the near future, complemented by Bitcoin education efforts.
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