CULedger is a consortium of credit unions, with the goal of delivering innovative applications on its global distributed ledger platform, and it provides features to credit unions and their members, by reducing risks associated with cybersecurity and fraud, improving member experience, streamlining internal processes, and reducing administrative and operational costs.
Through this, the company joins R3’s global network of more than 200 of the world’s financial services companies, technology companies, central banks, regulators, and trade associations working together on Corda. On the other hand, Corda is an enterprise-grade blockchain platform that removes costly friction in business transactions by enabling institutions to transact directly using smart contracts, while ensuring the highest levels of privacy and security.
CULedger believes that by working with R3 will help them develop additional use cases beyond digital identities for credit unions and their members. Moreover, Corda’s approach to privacy and security will enable CULedger to develop ground-breaking blockchain-based applications for self-sovereign digital identity and fraud detection.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now