Is Google Chasing The 90% Potential Of Blockchain That Facebook Left Out?

A man walks past a Google sign in San Francisco (AP Photo/Jeff Chiu)

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Regardless of your viewpoint on Facebook’s Libra program, it’s a significant stepping stone for the adoption of cryptocurrency. Facebook has it is repertoire a bank of over two billion users who will soon be exposed to the world of tokens and cryptocurrency.

However, outside of tokenomics, there is a lot more power in the blockchain, especially in regards to smart contracts. Thus, a recent partnership between Google and Chainlink, a company that provides on ramps and off ramps for information necessary to run smart contracts, may hint at Google wanting a bigger slice of the pie.

So far in the blockchain and cryptocurrency space, it has been tokens that have dominated in terms of usefulness. Bitcoin, as a prime example, is a blockchain token that has shown the most application, and garnered the most excitement from individuals.

This tokenized economy opens massive doors in terms of the transfer of value without the need for intermediaries, or the handbrake that banking regulations bring in, but it is only one piece of the pie.

In this nascent space, there are tokens, and then there is the blockchain proper with its smart contract applications offering huge potential. For enterprises and business, smart contracts offer far more than tokens can – but tokens are far more attractive for individuals.

Facebook, as a company serving individuals, is looking at taking tokens forward, but Google may well be looking to the enterprises. By honing in on smarter smart contracts, Google could well be tapping into the other 90 percent of blockchain’s potential.

Looking to make smart contracts smarter

Google’s decision to partner with Chainlink allows for Ethereum app builders using Google software to be able to integrate data from sources outside the blockchain.

Chainlink offers a service called an oracle to integrate additional data into on-chain…

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