Google Cloud has launched the L1 blockchain GCUL, currently in private testing phase

According to reports, Google Cloud has announced the launch of its L1 blockchain project GCUL. This project utilizes Python-based smart contract technology, aiming to establish a neutral infrastructure platform in the financial sector that supports 'native commercial bank on-chain currency', 24/7 capital markets, and payment and agency functions. Currently, the project is in the private test network phase. Earlier this year, Google announced a partnership with the Chicago Mercantile Exchange (CME) to develop a pilot for crypto assets and plans to release more technical details in the coming months.