Google is working on the blockchain technology that should support the cloud business of the company, Bloomberg reported, citing people familiar with the situation.

According to one of interlocutors created by the Google system will be used by third party companies for the implementation and conduct transactions. Which operations are involved and when will the development of the market is unknown.

It is expected that Google intends to use the blockchain technology and decentralized registry to improve security and reliability of storing information about transactions and other data in their cloud services.

Informants mentioned that Google bought and has invested in startups specializing in the blockchain, however, this funding the company does not advertise. However, the available information on the investments of Google in blachan start-UPS has allowed the company to occupy the first place among corporate investors in this indicator in 2017, ahead of banks Citigroup and Goldman Sachs, reported in the analytical Agency CB Insights.

According to Bloomberg, in 2016, Google launched for developers a trial version for testing the blockchain-service in your cloud, and currently the company is exploring wider ways of introducing the technology.

“As with many other new technologies, we have different teams work with people who study the potential use of the blockchain. However, for us it is too early to conclude about any possible applications or plans,” the Agency said a Google spokesperson.

The blockchain is the system of organization databases. It is used as a repository of information about transactions with cryptocurrencies (bitcoin, Ethereum) and can also be implemented in banking: cryptologia allows to reduce the time to conduct large transactions.