Google Cloud has stepped further into blockchain with the launch of Google Cloud Universal Ledger (GCUL), a new Layer-1 platform designed to streamline payments and asset reconciliation across the global financial system.
According to Google Cloud, GCUL aims to simplify the movement of commercial bank money by leveraging distributed ledger technology. The platform is currently in private testnet, with an early pilot already conducted alongside the CME Group to explore tokenized asset settlement.
Rich Widmann, Google Cloud’s head of Web3 strategy, described GCUL as a true Layer 1 blockchain. However, some in the crypto community argue the system resembles a consortium chain rather than a fully decentralized, permissionless network.
Infrastructure, Not Reinvention
Google Cloud has emphasized that GCUL is not about creating new forms of money but about modernizing financial infrastructure. In a statement, the company explained:
“The path to a global, 24/7, multi-currency, and programmable payments system isn’t about reinventing money, but about reimagining the infrastructure. GCUL will enable the next generation of payments while preserving the stability and regulatory clarity advantages of the current financial system.”
Bridging Traditional Finance and Web3
The launch underscores Big Tech’s growing role in the convergence of traditional finance and blockchain. By focusing on interoperability, regulatory alignment, and commercial bank money, GCUL positions itself as a tool for institutions seeking blockchain efficiency without compromising compliance.
While the project is still in its testnet phase, Google Cloud’s move highlights the increasing momentum behind tokenization and enterprise blockchain solutions.
The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/google-cloud-just-launched-its-own-blockchain-and-it-could-reshape-global-payments/