Key features include Python smart contracts, a single API, and stable, monthly-invoiced gas fees
Google Cloud has announced its entry into the Layer 1 blockchain space with a new infrastructure called the Google Cloud Universal Ledger (GCUL). The GCUL platform is an innovative payments network designed to offer users a competitive advantage through cheap, near-instant, and seamless transactions.
The GCUL platform will focus on re-imagining payment services and financial market products. As such, it presents a direct challenge to existing blockchain and fintech payment giants like Stripe, Circle, and Ripple Labs.
“GCUL brings together years of R&D at Google to provide financial institutions with a novel Layer 1 that is performant, credibly neutral, and enables Python-based smart contracts. GCUL is a neutral infrastructure layer.
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