Google Cloud is launching L1 Network GCUL, which is currently in the private testnet phase.

BlockBeats News, August 27th, Google's Web3 Strategy Lead Rich Widmann wrote that the recent discussion about Layer 1 blockchains has put Google's own Layer 1 — referred to as the Google Cloud Universal Ledger (GCUL) — in the spotlight. As a product lead in the crypto space, you understand that to build a Layer 1, it must have differentiation.

GCUL brings together Google's years of research and development and is currently in a private testnet phase, providing a new Layer 1 for financial institutions: it is high-performance, trust-neutral, and supports Python-based smart contracts. In addition to leveraging Google's distribution power, GCUL is also a neutral infrastructure layer. Tether will not use Circle's blockchain, and Adyen is also unlikely to use Stripe's blockchain. However, any financial institution can build on GCUL. Stay tuned for more technical details in the coming months!