One of the units of Alphabet Inc., the parent company of Google, is currently working on a technology, which would allow users to post and verify transactions, Bloomberg reported, citing its sources.
The technology is currently at such stage of development, when it is too early to tell the release date of any technology-based product. However, it is clear according to sources that the Blockchain services would be related with Google cloud businesses. The sources also reported that Alphabet recently has been acquiring and investing into companies specialized in Blockchain technology.
Recently, Google announced that it would ban online advertisements of cryptocurrencies, initial coin offerings and "related content" following a similar statement by another tech giant Facebook made in January.
After the news on the new Google anto-cryptocurrencies policy, Bitcoin fell by 14 percent, hitting a mark below $8,000.