CULedger starts working with R3

CULedger, a US-based credit union-owned blockchain consortium, has joined enterprise software firm R3’s global ecosystem.

It is currently rolling out its pilot programme of flagship product, MyCUID and  joins a network of more than 200 financial services firms, technology companies, central banks, regulators and trade associations working on the blockchain platform Corda.

John Ainsworth, President and Chief Operating Officer of CULedger, comments: “We are very excited to work with R3 in some capacity. Being part of this vast ecosystem will play a part in our ability to develop additional use cases beyond digital identities for credit unions and their members. We are looking forward to continuing our relationship with R3 as CULedger moves out of the pilot stage.”

David E. Rutter, CEO of R3, says: “Corda’s unique approach to privacy and security will enable CULedger to develop groundbreaking blockchain-based applications for self-sovereign digital identity and fraud detection. We look forward to working with them to create significant efficiencies for credit unions and their members.”