Google Cloud launches L1 blockchain GCUL, currently in private testnet stage

According to Odaily Planet Daily, Google Cloud has launched the Level 1 blockchain, GCUL. GCUL will utilize Python-based smart contracts. It aims to be a neutral infrastructure for finance, providing "native commercial bank on-chain currency," 24/7 capital markets infrastructure, and payment and agency capabilities. The plan is to open it to the entire Google network, which includes "billions of users" and "hundreds of institutional partners."

Currently in a private testnet phase, the platform announced a pilot program for tokenized assets in partnership with the Chicago Mercantile Exchange (CME) earlier this year. Further technical details are planned for the coming months.