Google Cloud reveals the development of the first class blockchain network (L1) to complete payment and payment operations

Rich Widman, head of the Department of Google Strategies, said that the new universal book Google Cloud Universal is designed to provide services to financial institutions and can be operated directly in the future by companies such as Amazon or Microsoft to provide better services to their customers.

Google Cloud continues to progress in the provision of a blockchain infrastructure by developing the first class blockchain network called Google Cloud Universal Ledger (GCU), and it is designed to serve financial institutions in order to take care of digitally representative assets, to settle transactions and provide intelligent contracts Python Programming.

This initiative – to be used on a special test network – was announced for the first time in March thanks to a joint experimental program with the CME group, where the two companies announced plans in the experience of the digital representation of assets and the completion of institutional transactions on a recorded record without note that it is the first network of block blocks. This was confirmed by Rich Widmann, world leader of the third web3 web3, on Google Claude Tuesday, in an article on the LinkedIn platform.

GUCU is designed to serve various banks and partners, not just an institution

Wadman described the GCUC as a “neutral” blockchain which provides its services to everyone, compared it to circle and band projects in a comparison calendar prepared mainly by Chuk Okpalugo – Head of the Paxos Products department – to clarify the differences between institutional initiatives in the Bluechen field.

Widanmann stressed that the GCU network aims to distinguish other institutional blockchain networks; While Stripe is currently developing its own network – Tempo (Timpo), which is compatible with Ethereum blockchain – emphasizing the end of efficiency, Serkel works to develop its Arc network (ARC) designed to improve the uses of its stable currency USDC (USD Coin -USDC); Wadmann said – in return – that Google aims to become a gucker as common ground for financial institutions instead of providing an integrated product package for an institution.

Google expansion: from the accommodation of blockchain networks to the development of its own protocol via GCU

Google’s efforts in the blockchain field reflect its general orientation towards digital assets; Although the company previously established a partnership with La Coinbase to provide cloud payment services, it invested in startups in the third web field and provided the infrastructure of various blockchain networks which included Solana Blockchain. Now Google announces its intention to move from accommodation to the development of its own protocol via the GUCU.

Nevertheless, some observers have expressed questions about Google’s ability to save network neutrality during its operation, and users on the X platform have indicated that the problem of decentralization is still in doubt in the blockchain network built and managed by a technology company, while Wadman has responded to its competitors, which will not allow the construction network, That its competitors The processes of the processes – as Atyen – will probably avoid using the Stripe network.

The CME group’s experimental initiative is an early praise of Google’s efforts in the blockchain field

Although the project is at its beginnings, additional technical details should be announced in the coming months. For its part, Wadmann suggested that companies such as Amazon and Microsoft could participate in the initiative at the end, and said that the long-term objective is to give other institutions the possibility of exploiting the GCU themselves, which will allow them to serve its customers more effectively.

On the other hand, the efforts aimed at developing the new Google blockchain network are represented in preparation for its expected role as a neutral and essential blockchain available for all the institutions of the global financial sector, at a time when the dynamics concerning the digital representation of assets and the regulations for transactions via the blockchain increases, the problems that attract the attention of the main banks, the placement funds, from Google to efforts.

In conclusion, the CME group’s decision to experience new network payments is an early confirmation of its correct approach, while the closed experimental phase of the network represents a starting point for what can become one of the most powerful Google initiatives as aspiration in the Blogchin field.

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