Block-chain is a digital platform where e-currencies like the bitcoin and cryptocurrency can make a transaction that would be recorded chronologically and publicly. Google has decided to create a similar Blockchain-like system which would boost the security of cloud computing. During the last five years, Google had started buying block-chain start-ups and investing millions of dollars into others while many people were just only researching about it. There was only one other company which invested money into Blockchain during that period of five years. In 2016, Google opened its cloud server to different Blockchain developers. Now, Google may get the benefits of those years of research and funding.
The idea of creating a blockchain is to protect the clouding system from being exploited. For example, if a determined theft could crack the code to steal information or any other sensitive data from the storage unit, then an expert hacker may storm into the cloud storage servers of different company to get access to the data, but Blockchain would make that kind of break-in certainly impossible for the hacker.
So, it would be interesting to see how Google will break the technology barriers by launching their own Block-chain system. According to a source, Google also plans to release a white-label version of its system. That means third parties could offer customers the same system Google provides, but on their own servers and with their own branding, and would have to pay Google to do it.