Google is looking at whether it can incorporate blockchain technology, its most senior advertising executive said Wednesday.
Sridhar Ramaswamy, Google's senior vice president of ads and commerce, said the company was researching the technology, but had no official product announcements to make.
"This is a research topic, so I don't have anything super-definitive to say. We have a small team that is looking at it. The core blockchain technology is not something that is super-scalable in terms of the sheer number of transactions it can run," he told an audience at the Advertising Week Europe conference in London, as part of a question-and-answer session on Wednesday.
Ramaswamy added that the "frictionless" nature of the technology has applications in money transfer. "The promise of blockchain of course is twofold: one is friction-free value transfer, you can think of it as money transfer working at scale with no friction and that can have an amazing effect on society, because it's hard to move money. It always costs 2ish percent in most Western countries to move money," he said.