Google to create its own blockchain

Google has announced plans to create its own blockchain with cloud and transaction services. The solution aims to allow third parties to post and verify transactions, according to a report by Bloomberg.

The project's decentralized technology will help to improve Google's secure infrastructure, according to the report. The company has been acquiring various blockchain startups and investing in others, such as Sorj Labs, Ripple, Buttercoin and Veeb.

Also, according to multiple media outlets, Google recently followed the move by Facebook to ban cryptocurrency-related advertisements — including ads for initial coin offerings, wallets, and trading advice — across all of its ad platforms.

Scott Spencer, sustainable ads director for Google, said that these advertisements were banned due to their use in harmful and potentially illegal activities, the report said.