Google Cloud is the latest company to show interest in Bitcoin Lightning. The $225 billion cloud and data service recently partnered with cryptocurrency firm Voltage, an infrastructure provider specializing in the Bitcoin Lightning Network.
Google Cloud partners with cryptocurrency company Voltage
The partnership will allow one of the world’s largest cloud computing providers to offer Bitcoin-based services worldwide. It will also help expand Voltage’s operations. Voltage CEO Graham Krizek said:
Voltage leverages Google Cloud to serve our customers more globally. So we have larger customers who need nodes deployed in certain geographic regions like the UK or Asia. In contrast, Google can use Voltage as a kind of outsourced Bitcoin and lightning team. We do this work for them. You know, we help companies that want to add Bitcoin or Lightning to their services.
As Apple moves away, Google approaches!
Meanwhile, the announcement got a lot of attention on social media. This reflects Google’s growing understanding and acceptance of Bitcoin and Lightning. What is important, however, is that the effects of the partnership run deeper. Christopher Calicott, managing director of venture capital firm Tramwell Partners, commented on this development:
There were some ex-Googlers on the back channels […] they were saying that this is the kind of unexpected interaction at Google that definitely grabs people’s attention.
Moreover, Google’s open-minded approach to Lightning is in stark contrast to that of rival Apple. Apple recently removed Damus, the Lightning-friendly decentralized social media protocol, from the App Store. Thus, he showed his reluctance towards Lightning. Calicott stated that the technology world has warmed to Lightning. In this regard, “There is currently a growing and broad-based company that is particularly interested in Lightning. “If they’re close to payouts, they’re likely to risk ignoring Lightning,” he said.
Big companies show interest in Bitcoin Lightning
Google Cloud operates under the umbrella of its parent company, Alphabet. Payment platform Google Pay has hundreds of millions of users in more than 15 countries. Google’s investment arm, Google Ventures (GV), has been showing intense interest in Bitcoin, as well as Blockchain and Web3 companies, since 2020. GV participated in a $6 million seed round for Voltage in 2021. According to Calicott, the interest shown by such a large player in the crypto space is a sign of growing momentum. Based on this, Calicott said:
I hate being over-indexed to any company here. But to me, like everything else in life, when people put their money where their mouths are, it sends a very strong signal of where they’re focusing.
Krizik agrees. For that, “I think this is a great signal for Google in particular, but also for larger organizations to develop Bitcoin-focused strategies.” said. Despite Apple’s removal of the Lightning-friendly Damus app, Lightning continues to attract attention among billion-dollar businesses worldwide. For example, one of Mexico’s largest companies has started experimenting with Lightning. Two major crypto exchanges, Binance and Coinbase, recently promised Lightning integrations.
Still, it’s still early, Calicott said, and “we need to observe this as we grow.” Krisek, who has been in the Bitcoin world since 2012 and has had his share of Bitcoin’s ups and downs, underlined why the partnership is important. In that regard, “As we begin to expose these organizations more to Bitcoin and what can be done with Bitcoin through Lightning, I think we have already caught their attention by the amount of interest and demand we are getting from it,” he said.
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