Rishi Ramchandani, a former executive at the defunct crypto platform BlockFi, has been named Google’s APAC Web3 Lead.
The world’s largest search engine argued earlier this year that Web3 has “tremendous potential,” and it set up a dedicated team.
In a recent LinkedIn post, Ramchandani stated that he is “excited” to begin his new role at the multinational technology company. His primary responsibility will be to advance Google’s Web3 efforts in the Asia-Pacific region.
He is familiar with the area because he served as BlockFi’s Vice President for Asia from June 2020 to December 2022. However, his previous employer, which filed for bankruptcy protection at the end of November, has been severely shaken by the ongoing crypto winter.
“Super thrilled to welcome Rishi Ramchandani to lead Google Cloud’s APAC efforts in Web3,” said Mitesh Agarwal, Managing Director Google Cloud Customer, Partner Engineering, and Web3 GTM.
Google Cloud has previously stated its intention to dive deep into the Web3 ecosystem by allowing developers to build and use blockchain-based applications.
It also formed a new team to assist and simplify the efforts of developers who are exploring the field. “We’re not trying to be part of that cryptocurrency wave directly,” said Amit Zavery, Vice President at Google Cloud. We provide technologies for businesses to use and benefit from the distributed nature of Web3 in their existing businesses and enterprises.”
BlockFi, one of the companies hardest hit by the prolonged bear market, laid off a fifth of its total workforce in June.
It received a $250 million revolving credit from FTX, but the exchange’s demise crippled its operations. BlockFi suspended withdrawals in the middle of November, just a few weeks before declaring bankruptcy.
The crypto lender recently requested permission from the United States Bankruptcy Court to allow users to withdraw funds from their BlockFi Wallets. The firm described the initiative as a “important step toward our goal of returning assets to clients” and added: “It is our belief that clients unambiguously own the digital assets in their BlockFi Wallet Accounts. As a result, we filed a motion with the US Bankruptcy Court requesting permission to allow clients to withdraw digital assets held in their BlockFi Wallet Accounts.
We will seek similar relief from the Bermuda Supreme Court with regard to BlockFi Wallet Accounts held by BlockFi International Ltd.”