CULedger, a consortium of U.S. credit unions known for experimenting with multiple private blockchains. Also, it has recently added one more to the list: IBM’s Hyperledger Fabric solution. Hyperledger Blockchain Used by IBM to Make Deal With US Credit Union.

 

The consortium will use IBM’s tech to create “an immutable audit trail that can be used to create new business models and transform existing business processes for credit unions,”

-Big Blue said Monday.

The new solution has services like:

  •  lending and payments
  •  identity authentication
  •  compliance with know-your-customer (KYC) regulations

 

IBM said that the first blockchain services will be available to CULedger members later in 2019.

 

The consortium revealed that it will keep its relationships with previous partners R3, Hedera and Evernym.

 

“The use of a specific blockchain platform will be dependent on each particular application or use case that is being developed. Our partners, such as IBM, Evernym and Sovrin, each play a role within our overall strategy and solutions,”

-Julie Esser, CULedger’s chief experience officer

“We are not replacing any of the relationships that we have previously announced. CULedger is building a network of networks that will facilitate the peer-to-peer exchange of anything digital. As we continue to develop our solutions, the applications will better suite for different networks. Also, CULedger will enable those networks to interact with each other.”

-Julie Esser, CULedger’s chief experience officer

 

Julie Esser also revealed that an identity solution for members leveraging the Hyperledger Indy platform (the code for which was developed by Evernym and contributed by the Sovrin Foundation) is being built by CULedger. Fabric, which IBM contributed to the open-source Hyperledger project, will be used by the new KYC-related product.

 

Last May, the consortium announced that it would use Hedera’s Hashgraph distributed ledger technology (DLT) to build a public system for cross-border payments. In December, CULedger announced its collaboration with R3’s global network of companies to build on the open-source Corda platform.

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