In an effort to revolutionize the integration of artificial intelligence (AI) and big data into the Web3 landscape smart contract platform, MultiversX (ELGD) has announced a strategic partnership with Google Cloud.
According to information shared with CryptoSlatethis strategic alliance is part of MultiversX’s comprehensive strategy to drive the development of blockchain-powered tools and Web3 solutions that leverage AI.
The announcement was made during a wide-ranging discussion at the xDay conference with representatives from major technology 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 accelerating the expansion of Web3.
MultiversX’s innovative sharded architecture, capable of scaling more than 100,000 transactions per second, has become the first-choice backend solution for real-world applications in various areas, according to the company. This is partly due to advances in token standards and smart accounts, which have seen leading institutions such as European digital asset marketplace ICI D|SERVICES and Audi’s in-car virtual reality platform holoride 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 on addresses, transaction amounts, smart contract interactions and more.
Red commented:
“There are exciting opportunities to enable Web3 developers to build and scale faster… our partnership with MultiversX will allow us to further expand our strategy and further our position as one of the key innovation engines in the blockchain world to strengthen.”
Additionally, this partnership allows ecosystem builders to leverage the advanced tools and services offered by Google Cloud, bringing high performance and scalability to the non-blockchain components of their dApps. This collaboration kicked off the first joint venture at the xDay Hackathon, offering up to $1 million in prizes and funding, with Google Cloud as the lead partner of the Artificial Intelligence journey.
Mincu expressed his excitement about the partnership, noting the potential for accelerated growth and expansion of their ecosystem. Clearly, 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 new avenues to help startups on their path to growth and scalability.