Google outlines plans for ‘Universal Ledger’ amid race for institutional blockchains
Google Cloud’s Web3 head used a LinkedIn post to brand the company’s upcoming Universal Ledger as a neutral blockchain for financial institutions.
Google Cloud’s head of Web3 strategy used a LinkedIn post to share new details on the company’s in-development layer-1 blockchain, the Google Cloud Universal Ledger (GCUL).
Rich Widmann described the blockchain as the result of “years of R&D at Google,” designed to be credibly neutral and compatible with Python-based smart contracts.
According to Widmann, GCUL is meant to serve as an open infrastructure layer for financial institutions. “Tether won’t use Circle’s blockchain — and Adyen probably won’t use Stripe’s blockchain,” he said, suggesting that Google’s network reported neutrality could help broaden adoption.