Thursday, a patent application was filed by Google explaining that the multi-billion dollar company wants to use a blockchain platform to authentify and secure accounting data.
The company, which started as a search engine, is planning to use blockchain to record signatures and verify the information stored in their database and know if is altered and, if so, when it was modified. To do so, it will develop a “tamper-evident” log.
The filing also explained that Google will use two blockchains. One blockchain will be composed of “first signatures” recorded on the ledger, and the second one will store the information initially verified by the signature.
The filing says,
“The method includes adding a new block to the target blockchain by linking the new block to both the existing block and the block of the second blockchain that is identified by generating a signature for the new block that is based on the first signature and the second signature, and associating the signature with the new block. The target blockchain and the second blockchain may be part of a block lattice.”
Last week, Google announced that it was banning all cryptocurrency-related ads on its platform, since they believe they are often related to fraudulent schemes.
However, the company still believes in the potential of the technology underlying cryptocurrencies since Google’s head of advertising, Ridhar Ramaswamy, mentioned on Wednesday that the company was still trying to figure out how to implement blockchain technology to their existing systems.