Google Cloud is the latest company to show interest in Bitcoin (BTC) Lightning. The $225 billion cloud and data service recently partnered with voltageage, an infrastructure provider specializing in the Bitcoin Lightning Network.
The partnership will enable one of the world’s largest cloud computing providers to deploy Bitcoin-based services globally while helping to grow Volt’s business. Graham Krizek, CEO of Volt, told Cointelegraph:
“Voltage uses Google Cloud to serve our customers around the world. So we have larger customers who need nodes deployed in specific geographies such as the UK and Asia.”
Conversely, Google may exploit “Voltage” as a sort of external Bitcoin and lightning team. He said: “We handle this business for them, actually helping companies interested in adding Bitcoin or Lightning to their services.”
The announcement received widespread attention on social media and reflects Google’s growing understanding and acceptance of Bitcoin and Lightning. But most importantly, the implications of the partnership run deeper.
Christopher Calicott, managing director of venture capital firm Tramell Venture Partners, told Cointelegraph: “We had some people in the backchannel who were ex-Googlers […] saying it’s something unexpected [social media] engagement that is sure to get people’s attention on Google.”
Moreover, Google’s open approach to Lightning is diametrically opposed to that of its competitor, Apple. Apple recently removed Damus, a Lightning-friendly decentralized social media protocol, from the App Store, demonstrating its distaste for Lightning. Calicott explained that the tech world may be interested in Lightning:
“There is now growing and widespread corporate activity tinkering with Lightning in particular. If they are adjacent to payments, they would ignore Lightning at their own peril.”
Google Cloud operates under the patronage of its parent company, Alphabet. The Google Pay payment platform boasts hundreds of millions of users in over 15 countries.
Since 2020, Google’s investment arm, Google Ventures (GV), has shown great interest in blockchain and Web3 companies, as well as Bitcoin.
GV participated in a $6 million seed round for Voltage in 2021. For Calicott, such a gigantic player’s interest in the crypto space could be a sign of growing momentum:
“I hate to over-index any particular corporation, but for me, as with everything in life, when people put their money where their mouth is, it sends a very strong signal of what they’re focused on.”
Krizek agreed: “I think it’s a really big signal for more Bitcoin-focused strategies to be introduced, particularly among Google, but also just larger organizations.”
Despite Apple discontinuing its Lightning-friendly Damus app – much to the chagrin of former Twitter CEO Jack Dorsey – Lightning continues to gain popularity among billion-dollar companies around the world. One of Mexico’s largest companies has begun experimenting with Lightning, while two major cryptocurrency exchanges, Binance and Coinbase, recently promised Lightning integration.
Related: The World’s Largest Bitcoin Conferences: Decentralization with Cointelegraph
Nevertheless, it’s still early and “we have to watch it as it grows,” Calicott noted. Krizek, who has seen many of Bitcoin’s ups and downs while participating in the Bitcoin space since 2012, emphasized why the partnership is vital:
“As we start to introduce these organizations more to Bitcoin and its capabilities through Lightning, I think we’ve already caught their attention with the strong interest and demand we’ve had because of it.”
He added that more services should be introduced in the near future, complemented by Bitcoin education efforts.
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