ChainCatcher message, according to Rich Widmann, Google's Head of Web3 Strategy, recent discussions about Layer 1 blockchains have brought Google's own Layer 1—referred to as Google Cloud Universal Ledger (GCUL)—into the spotlight. As a product manager in the crypto space, you understand that if you're going to build a Layer 1, it must be differentiated.
GCUL consolidates years of R&D from Google and is currently in the private testnet phase, offering financial institutions a brand new Layer 1: it is high-performance, trustlessly neutral, and supports Python-based smart contracts. In addition to leveraging Google's distribution capabilities, GCUL is also a neutral infrastructure layer. Tether will not use Circle's blockchain, and Adyen is also unlikely to use Stripe's blockchain. But any financial institution can build on GCUL. More technical details will be released in the coming months!
