Google Cloud’s head of Web3 strategy has been talking up the firm's Universal Ledger Layer-1 blockchain as a "credibly neutral" infrastructure for financial services, contrasting it with rival options from Stripe and Circle.
Google Cloud first gave a hint of its plans for the Universal Ledger in March, announcing a pilot with CME Group to use the blockchain for wholesale payments and tokenisation of assets.
In a LinkedIn post, Rich Windmann, head of Web3 strategy at the tech giant, has now provided some more details on the Google Cloud Universal Ledger (GCUL).
"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," he writes.
Windmann stresses that "any financial institution can build with GCUL," contrasting this with Stripe's Tempo Layer-1 and Circle's Arc.
"Tether won't use Circle's blockchain - and Adyen probably won't use Stripe's blockchain. But any financial institution can build with GCUL."
Windmann also adapted a chart comparing Stripe and Circle's offerings, created by fintech strategist Chuk Okpalugo, to add the GCUL.
However, with information still scant, Windmann promises more technical details in the coming months.