In a pivotal move to redefine the decentralized finance (DeFi) realm, Google Cloud has collaborated with the Web3 startup, Orderly Network. This partnership is centered around crafting developer tools that prioritize the user, aiming to simplify the path to decentralized ecosystems.
Orderly Network, a provider of DeFi infrastructure, is partnering with Google Cloud to innovate off-chain components of DeFi systems. These innovations will primarily address the hurdles of self-custody and transparency in the sector. As a result of this collaboration, the Google Cloud Marketplace will soon feature Orderly as a DeFi infrastructure provider.
Google Cloud's decision to enter this alliance stems from its clientele's growing inclination towards blockchain-centric workloads. As Rishi Ramchandani, Head of APAC Web3 GTM at Google Cloud Asia Pacific, articulated, the rising demand underscores the urgent need for a specialized Web3 product lineup. He emphasized,
Collaborating with Orderly Network to create a robust infrastructure will bridge the gaps in DeFi's growth and adoption. Our goal is to foster scalability in this ever-evolving domain by crafting secure, user-centric enterprise developer tools.
The financial world is abuzz with the promise of blockchain technology. Renowned financial entities, including JP Morgan, have been actively delving into blockchain-based innovations, with DeFi being a prominent area of interest. Early reports from 2021 indicated that a significant 55% of the top-tier banks are already exploring decentralized technologies.
Orderly Network's vision is to distribute DeFi tasks between on-chain and off-chain components. This strategy ensures a harmonious blend of rapid operations without diluting the core advantages of decentralized systems. The off-chain components play a pivotal role in ensuring critical on-chain interactions, while off-chain operations efficiently handle interactions away from the primary blockchain.
When Cointelegraph spoke with Arjun Arora, COO of Orderly Network, about their alliance with Google and its potential impact on mainstreaming DeFi, Arora outlined that for widespread acceptance, blockchain technology needs to surpass existing solutions. He highlighted Orderly's approach, saying,
"We're designing a trading tool that ensures smooth dApp integration across blockchains, combining the best of both decentralized (DEXs) and centralized exchanges (CEXs). Collaborating with Google empowers our matching engine to rival traditional financial systems. Simultaneously, our infrastructure retains the core benefits of decentralized finance like self-custody and transparency."
Given the existing challenges of entering the DeFi domain and its associated security concerns, the partnership between Google Cloud and Orderly Network is a beacon of hope. Both entities are striving to design a fortified environment and tools, setting a new standard in the DeFi arena.
