Google creates blockchain for its cryptocurrency

Google has announced the creation of its own blockchain network - Google Cloud Universal Ledger (GCUL). The company presents this solution as a new stage in the development of financial infrastructure that aims to unite cryptocurrency assets into a single ecosystem. Liga.net reports on this.

What is Google Cloud Universal Ledger

Unlike traditional decentralized solutions, GCUL is positioned as a hybrid platform. It combines the speed and scalability of open blockchains with centralized control by Google. Thus, the company offers a "universal bridge" between traditional finance and the Web3 world.

Key features of GCUL include:

• Integration with financial instruments, cryptocurrencies, and government services;

• Partial openness for third-party projects and startups;

• Reduction of auditing costs and technical barriers;

• Native interfaces similar to GPay or corporate Google accounts.

How GCUL will simplify transactions for businesses and users

For businesses and government structures, this means access to blockchain services without complex integrations. For mass users - simplified transactions, purchase of digital assets, and document signing in a few clicks. At the same time, there is a downside: the centralized player receives significantly more data about account owners, which may destroy the traditional notion of cryptocurrency anonymity.

Market experts are divided. Some call GCUL "the beginning of the mass entry of billions of people into crypto," while others call it "the end of the romance of decentralization." The idea of freedom in blockchain under corporate pressure looks increasingly elusive.

Analysts predict that Google will only be the first in this race. In the coming years, similar products may be launched by Microsoft, Amazon, or Alibaba. Thus, Web3 is facing global competition of centralized blockchains against traditional "guerrilla crypto."

Previously, we reported that Ukrainians bought bitcoins worth $882 million in a year.