Google Cloud is moving forward with plans to launch its own layer-1 (L1) blockchain, positioning the network as neutral infrastructure for global finance at a time when fintech competitors are developing out their own distributed ledgers.
In a LinkedIn post published Tuesday, Rich Widmann, Google’s head of Web3 strategy, provided fresh details on the project, known as the Google Cloud Universal Ledger (GCUL). He described the platform as a credibly neutral, high-performance blockchain designed for institutions, supporting Python-based smart contracts to make it more accessible to developers and financial engineers.
“Any financial institution can build with GCUL,” Widmann said, arguing that while companies like Tether may be unlikely to adopt Circle’s blockchain and payment firms like Adyen may hesitate to use Stripe’s, Google’s neutral infrastructure removes those barriers.
He also expanded on a comparative chart by fintech strategist Chuk Okpalugo, highlighting how GCUL d
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