Google Cloud has confirmed that its in-house blockchain project, called the Google Cloud Universal Ledger (GCUL), is a Layer-1 blockchain designed to support digital payments and asset tokenization.
Rich Widmann, Google Cloud’s head of Web3 strategy, described GCUL in a post on LinkedIn as the result of long-term internal research.
He emphasized that the blockchain will allow developers to write smart contracts using Python, which differs from common crypto chains that typically use Solidity or Rust. This makes it more accessible to engineers already familiar with enterprise programming tools.
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Widmann explained that GCUL is an infrastructure layer that can be used by financial institutions seeking a neutral platform.
The announcement comes after CME Group finished the first phase of its integration and testing of the Universal Ledger. At the time, it was unclear whether this system would operate as a public blockchain or what its role would be.
According to Widmann, more technical information about GCUL will be shared in the near future. That could include how the network processes transactions, maintains consensus, and supports applications at scale.
Additionally, he argued that companies like Tether
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