Google Cloud Announces Development of Universal Ledger for Financial Services
Google Cloud has disclosed it is developing a proprietary blockchain network, the Google Cloud Universal Ledger (GCUL), currently in a private testnet phase.
According to Rich Widmann, Google Cloud’s Head of Web3 Strategy, GCUL is architected to provide financial institutions with a high-performance, credibly neutral infrastructure layer for payment automation and digital asset management.
A key differentiator is its focus on neutrality, aiming to serve competing entities like Tether and Circle on the same platform. The service will be programmable with Python-based smart contracts and emphasize built-in compliance, operating as a private, permissioned system.
GCUL will be accessible to developers through a single API, with further details to be released at a later date.
