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Google Cloud is developing its own blockchain, the Google Cloud Universal Ledger (GCUL).
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GCUL is in private testnet and designed for payments and asset tokenization.
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It will operate as a permissioned platform for financial institutions.
About GCUL
Google Cloud is testing GCUL, a blockchain platform for payments and digital assets. The project is positioned as a “credibly neutral” infrastructure for banks and financial institutions. GCUL supports Python-based smart contracts and aims to serve as a universal ledger.
Institutional Focus
GCUL is designed as a permissioned system, accessible through a single API. It will prioritize compliance and programmability for payments, asset tokenization, and automation. Google first announced GCUL in March in collaboration with CME Group, which is piloting wholesale payment solutions on the network.
Industry Reaction
While Google refers to GCUL as a Layer 1 blockchain, critics argue that its private structure limits decentralization. Even so, the project could become a key tool for institutions unwilling to adopt public blockchains like Ethereum or Solana.
