Why The Boom?
There has been a lot of talk recently over the amount of power consumed by Cryptocurrency mining and Google has now added its two pennies worth on the whole discussion point.
Google has recently contacted all of its investors to highlight the need for more powerful computers. This is as a direct result of the mining taking place for ether and the other leading Cryptocurrencies although there are several other factors to take into consideration.
Over the last 20 years, Google has seen its own computers increase in speed by over 200,000 times. There have been many reasons for this growth. The first of these is a basic scientific theory in that power per square inch of a chip for computing does actually double every second year so there is a neutral progression, which will always happen no matter.
Secondly, there is a phenomenal heightening of demand for processing due to gaming and improved graphics as well as Cryptocurrency mining requirements. The mining of ether has led to a massive increase in demand alone. However, despite all of this, the experts in Google actually do not believe that any of the above is the major reason behind the computing boom. The main factor is apparently artificial intelligence i.e. automatic facial recognition, as well as translation of text (minus human interaction) – all of which are data heavy transactions. These are now taking the world by storm and this will only become more prevalent over the coming years.
Cryptocurrencies as a whole industry have had very little impact on Google, as it would seem. The world’s best search engine has looked into using Cryptocurrency technology in the past but so far has only managed to ban ads and browser extensions for mining.
Google & Cryptocurrencies
There is proof that Google may well be using Blockchains to secure their audit information. There was an application for a patent submitted in the autumn of 2017. This would be used to produce a log that can store information where there is also verification that the data has not been tampered with. If the information has been changed, however, then there is a clear evidence of where, how and when it was altered.
The timing of this new patent is very interesting especially when you consider that there has been information released by Bloomberg stating that Google is looking to upgrade their news service to be Blockchain related to assist its cloud business. This would then suggest that the search engine giant is then looking at storing the history of transactions.
At the moment it is very clear that Google is certainly keeping its plans close to its chest and not letting anything out into the public domain. It has been confirmed by Google spokespeople that there is a team within the organization researching into Cryptocurrencies and how Google can use them going forward. The results of this research and the implications on this search engine have not yet been released.
Future developments are yet to unfold but certainly will do so with the whole world watching.