Shulou(Shulou.com)11/24 Report--

According to the news on the evening of October 11, Beijing time, Google announced today that it will allow some customers to use digital encrypted currency to pay for cloud services from the beginning of next year through cooperation with digital encrypted currency trading platform Coinbase. As part of the partnership, Coinbase will transfer some of its applications to Google's cloud platform.

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The deal, announced at Google's Cloud Next conference, could attract some "cutting-edge companies" to use Google's cloud services, analysts said. Currently, Google's main cloud competitors do not allow customers to use digital cryptocurrency to pay.

For Alphabet, Google's parent company, cloud services have diversified Alphabet's revenue, freeing it from its heavy reliance on advertising. Today, the cloud accounts for 9 per cent of Alphabet's total revenue, up from less than 6 per cent three years ago.

By contrast, most of Coinbase's revenue comes from retail transactions. Im Migdal, vice president of business development at Coinbase, said today that as part of the partnership, Coinbase will transfer data-related applications from Amazon's cloud service Amazon Web Services (AWS) to Google's cloud service. Coinbase has relied on Amazon's AWS for years.

Amit Zavery, vice president of Google's cloud business, said in an interview with the media that by integrating the "Coinbase Commerce" (Coinbase commerce) service, Google's cloud platform will initially accept digital encrypted currency payments from a small number of customers in the Web3 world. Over time, Google will allow more customers to use cryptocurrency to pay

Coinbase Commerce services have won the support of a large number of merchants, making it easier for them to accept digital cryptocurrency payments. Currently, Coinbase Commerce supports 10 digital cryptocurrencies, including bitcoin, dogcoin, ethercoin and Lettercoin.

The financial terms of the deal were not disclosed and Mr Migdahl said that, like other Coinbase Commerc arrangements, Coinbase would earn a percentage of the commission from transactions conducted through it.

In addition, Google announced that it is exploring how to use Coinbase Prime. Coinbase Prime is a service that stores and trades digital cryptocurrencies. "We will conduct experiments to see how to participate in the management of cryptocurrency assets," Zaffrey said. "

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