|More from: | Hyperledger |||
CU Ledger, a consortium of U.S. credit unions that’s been experimenting with a range of private blockchains, has added one more to the list: IBM’s Hyperledger Fabric solution.
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.
In particular, the new solutions will be built for such services as identity authentication, compliance with know-your-customer (KYC) regulations, lending and payments, the tech giant said. The first blockchain-based services will be available to CULedger members “later in 2019,” IBM said.
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About | Hyperledger |
Hyperledger is an open source collaborative effort created to advance cross-industry blockchain technologies. It is a global collaboration, hosted by The Linux Foundation, including leaders in finance, banking, Internet of Things, supply chains, manufacturing and Technology.
Think of it as an operating system for marketplaces, data-sharing networks, micro-currencies, and decentralized digital communities. It has the potential to vastly reduce the cost and complexity of getting things done in the real world.
Only an Open Source, collaborative software development approach can ensure the transparency, longevity, interoperability and support required to bring blockchain technologies forward to mainstream commercial adoption. That is what Hyperledger is about – communities of software developers building blockchain frameworks and platforms.