Google Cloud And Startup Web3 Collaborate To Develop DeFi Developers

JAKARTA - Google Cloud has collaborated with a Web3 startup to develop user-based developer tools for decentralized finance (DeFi) to lower barriers to entry into a decentralized world.

DeFi infrastructure provider Orderly Network has partnered with Google Cloud to develop off-chain components of DeFi infrastructure that focus on self-custody challenges and transparency. Orderly will become a DeFi infrastructure provider, available on Google Cloud Marketplace.

Google Cloud says that this partnership is due to the growing interest of clients exploring blockchain workloads on Google Cloud.

Rishi Ramchahani, Head of APAC Web3 GTM, Google Cloud Asia Pacific, said that the surge in demand highlighted the need for tailored Web3 product packages.

"Working with Orderly Network to build a solid infrastructure will help address the gaps in DeFi's adoption and growth, as well as ensure in-space scalability that continues to develop through the development of secure and user-oriented company developer tools," said Ramchandani.

With blockchain technology at the center of the fintech revolution, many in the financial industry are exploring decentralized technologies, including JP Morgan, which has actively tested various blockchain-based solutions including DeFi.

Traditional banking systems are starting to show interest in blockchain technology with one report from 2021 indicating that 55% of the top 100 banks have some exposure to decentralized technology.

Orderly hopes to distribute DeFi loads to on-chain and off-chain components to ensure a balance between speed and adequate decentralization. The company claims that this distribution will simplify operations without compromising the inherent advantage of decentralized systems.

This off-chain component will ensure important interactions are carried out on-chain while efficiently overcome off-chain interactions are processed outside the main blockchain.

Cointelegraph talks with Arjun Arora, COO on Orderly Network, to understand how their collaboration with Google will help make DeFi mainstream.

Arora said that to achieve mainstream adoption, blockchain technology should outperform current solutions and Orderly is building a trading Lego for smooth dApp integration across blockchain with a focus on combining the best from decentralized exchanges (DEXs) and centralized exchanges (CEXs).

"Our collaboration with Google ensures our matching machines compete with the centralized systems in traditional finance, but our other liquidity infrastructure and networks maintain all the advantages of self-custody and transparency seen in decentralized finance," said Arora.

DeFi's biggest challenge stems from entry barriers and security concerns that have plagued this ecosystem for a long time. With Google Cloud's entry into the DeFi infrastructure market with Orderly as a key partner, this collaboration aims to build a safe environment and tools to address these issues