Google Launches ‘Universal Ledger’: A New Layer-1 Blockchain for Financial Institutions

Google Cloud has unveiled its plans for a new layer-1 blockchain platform called Google Cloud Universal Ledger (GCUL), designed to serve financial institutions. The project, developed over years of research, promises neutrality and compatibility with Python-based smart contracts. GCUL aims to provide an open infrastructure layer for these institutions to leverage, potentially offering greater flexibility than existing solutions offered by rivals like Circle and Stripe.