🚀 Google’s launching its personal L1
Think about an old school kinda man. Y’know, the kind that also reads precise newspapers, prefers cable TV over Netflix, and genuinely believes money is superior to playing cards in each approach.
That’d be my uncle Roy. And for the longest time ever, he merely refused to get a smartphone.
Which isn’t unhealthy, however my boy used to review and memorize bodily maps earlier than occurring street journeys. Additionally nothing unhealthy, however when you understand how a lot simpler GPS makes life, watching this felt borderline insane.
However Roy finally gave in. Go to him right this moment and you may in all probability discover him enjoying Sweet Crush.
Companies are having their very own Unc Roy second with blockchain know-how. After spending years being skeptical, they’re now leaping in headfirst.
First, we had Stripe announce it is launching its personal blockchain. Then Circle adopted.
And now… drumroll please… Google Cloud’s launching its personal Layer-1 blockchain known as the Google Cloud Common Ledger (GCUL).
(Fast facet word: if you happen to’re questioning why they’re constructing their very own L1s as a substitute of simply utilizing Ethereum L2 options, we really broke that down right here.)
In line with Google Cloud’s head of Web3 technique, Wealthy Widmann, GCUL will function built-in finance instruments, a local business financial institution, on-chain cash dealing with, and Python-based good contracts.
Now, none of those options are notably groundbreaking on their very own.
What is completely wild about this launch, although, is Google’s huge attain. Here is the size we’re speaking about:
👉 Google Cloud is the third-largest cloud supplier on the planet;
👉 It serves heavyweight shoppers throughout finance, retail, healthcare, and AI – like PayPal, CME Group, and Deutsche Financial institution;
👉 This infrastructure handles workloads for actually billions of individuals each single day.
And here is the true kicker (which is the place Widmann made a superb level): GCUL is designed as a impartial infrastructure layer.
Give it some thought: firms like Tether aren’t gonna construct on Circle’s blockchain (aggressive battle), and corporations like Adyen in all probability will not contact Stripe’s platform (identical cause).
However any monetary establishment can construct with GCUL as a result of Google is not straight competing with them.
This neutrality is large as a result of it opens the door to far more adoption.
Extra adoption means extra customers getting acquainted with crypto instruments and companies.
Extra customers exploring the crypto ecosystem means… nicely, I feel you understand the place that is going…
🚀
Now you are within the know. However take into consideration your folks – they in all probability don’t know. I’m wondering who might repair that… 😃🫵
Unfold the phrase and be the hero you understand you might be!
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