MultiversX partners with Google Cloud to boost AI and big data in Web3 MultiversX partners with Google Cloud to boost AI and big data in Web3
MultiversX's strategic alignment with Google Cloud could set a new pace for AI and big data in Web3.
2 min read
Updated: Oct. 20, 2023 at 11:22 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
In a bid to revolutionize the integration of artificial intelligence (AI) and big data in the Web3 landscape smart contract platform, MultiversX (ELGD) has announced a strategic partnership with Google Cloud.
According to information shared with CryptoSlate, this strategic alliance is part of MultiversX’s extensive strategy to drive the development of blockchain-powered tools and Web3 solutions that leverage AI.
The announcement was made during a comprehensive discussion at the xDay Conference featuring representatives from major tech companies, government officials, and influential experts. Beniamin Mincu, CEO of MultiversX, and Daniel Rood, Head of Web3 EMEA at Google Cloud, have expressed their mutual commitment to accelerate the expansion of Web3.
MultiversX’s innovative sharded architecture, capable of scaling beyond 100,000 transactions per second, has become the first-choice backend solution for real-world applications across various fields, according to the company. This is partly due to advancements around token standards and smart accounts, leading institutions like the European digital assets marketplace ICI D|SERVICES and Audi’s in-car virtual reality platform, holoride, to choose MultiversX as their platform.
The integration of MultiversX’s network with BigQuery, Google Cloud’s serverless data warehouse with a built-in query engine, is capable of streamlining the execution of large-scale blockchain projects. This synergy will enable Web3 developers and users to derive valuable insights from data analytics and artificial intelligence tools, facilitating access to data concerning addresses, transacted amounts, smart contract interactions, and more.
Rood commented,
“There are exciting opportunities to enable Web3 developers to build and scale faster… our partnership with MultiversX will allow us to expand our strategy further and solidify our position as one of the main innovation drivers in the blockchain world.”
Furthermore, this partnership allows ecosystem builders to utilize the advanced tools and services offered by Google Cloud, thereby introducing high performance and scalability to their dApps’ non-blockchain components. This collaboration initiated its first joint endeavor at the xDay Hackathon, offering up to $1M in prizes and funding, with Google Cloud as the primary partner of the Artificial Intelligence track.
Mincu expressed excitement over the partnership, noting the potential for accelerated growth and the expansion of their ecosystem. It’s understood that Google Cloud’s move into the Web3 space clearly demonstrates its long-standing support for innovation and technical advancement.
In the coming months, the collaboration between MultiversX and Google Cloud aims to delve deeper into the integration and support of the MultiversX network, exploring novel avenues to assist startups in their path to growth and scalability.
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Liam 'Akiba' Wright
Also known as "Akiba," Liam Wright is a reporter, podcast producer, and Editor-in-Chief at CryptoSlate. He believes that decentralized technology has the potential to make widespread positive change.
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MultiversX is a blockchain protocol that seeks to offer extremely fast transaction speeds by using sharding.
Google LLC is an American multinational technology company that is most commonly known for its search engine that was founded by Sergey Brin and Larry Page in 1998.
A tech visionary, Beniamin Mincu is the Co-Founder and CEO of Elrond.