Google Cloud has officially confirmed the existence of its internal blockchain project. Known as the Google Cloud Universal Ledger (GCUL), it’s a foundational Layer-1 blockchain built to facilitate digital payments and the tokenization of assets.
Rich Widmann, who leads Web3 strategy at Google Cloud, shared details about GCUL in a LinkedIn update, highlighting that the project is the culmination of extensive research conducted internally.
A key feature he emphasized is the blockchain’s support for smart contracts written in Python. This sets it apart from many other crypto networks that typically rely on languages like Solidity or Rust. This design choice aims to attract enterprise developers already comfortable with Python.
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Widmann clarified that GCUL is conceived as a foundational technology layer suitable for financial institutions seeking a platform that remains neutral.
This announcement follows the completion of the initial integration and testing phase by CME Group using the Universal Ledger. Prior to this, the specific function and whether it would be a public blockchain was not clear.
Widmann stated that more in-depth technical information concerning GCUL will be released soon. This might include the specifics of transaction processing, consensus mechanisms, and how it supports applications with high scalability.
He also posited that companies such as Tether
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