Google plans to adopt a blockchain accounting system, people familiar with the situation told Bloomberg. Google will use the technology, the report says, as a means to differentiate its business from the cloud of its rivals. The company would also allegedly authorize the accounting system so that other companies could run it on their own servers.
Google was the second most active corporate investor in blockchain technology from 2012 to 2017, according to CBInsights, just behind SBI Holdings, based in Japan. The company has also been investing and acquiring new companies with experience in digital accounting, the anonymous source told Bloomberg.
Other major technology companies such as IBM and Microsoft also have active investments in blockchain-style technologies. The Verge contacted Google for comments.