Google Cloud has announced the launch of a new blockchain platform, GCUL, aimed at addressing global settlement issues. This move allows the company to compete with established players in the market like Ripple and Circle.
Google's Strategic Position
With the launch of GCUL, Google is trying to establish a significant position in the settlement domain, while keeping competitive against companies like Ripple and Circle that already dominate this area.
Approach to Settlements through GCUL
GCUL focuses on simplifying the process for financial institutions. It utilizes Python-based smart contracts, making the platform more accessible to developers. Google aims to make GCUL a neutral infrastructure layer for the global market.
Tokenization and Market Competition
GCUL also incorporates elements of tokenization, reflecting the overall trend among traditional financial institutions. Google seeks to secure a position in the growing segment of tokenized assets, which could reshape existing settlement models.
With the launch of the new blockchain platform GCUL, Google demonstrates its ambitions in the fintech sector, offering a promising tool for simplifying settlements in the global economy.
