Google Cloud Launches New Layer-1 Blockchain Initiative for Financial Institutions

Google Cloud has unveiled its new layer-1 blockchain platform, the Google Cloud Universal Ledger (GCUL), designed to disrupt existing financial infrastructure. Currently in a private testnet phase, GCUL aims to provide a neutral platform for financial institutions and payment providers. The initiative is led by Rich Widmann, Head of Web3 Strategy at Google Cloud, and brings Python-based smart contracts to enhance development speed. Widmann notes the importance of neutrality, stating that