CULedger Joins R3’s Global Blockchain Ecosystem
December 13, 2018
DENVER–(BUSINESS WIRE)–CULedger,
a credit union-owned CUSO that focuses on delivering innovative
applications to credit unions through its cross-border global
distributed ledger platform, is now a member of the enterprise software
firm R3’s global blockchain ecosystem.
Based in Denver, CULedger is a consortium of credit unions focusing on
delivering innovative applications on its global distributed ledger
platform. It provides advantages 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. CULedger is currently rolling out its pilot
program of the company’s flagship product, MyCUID,
one of the first self-sovereign identification methods for credit union
members.
It joins R3’s global network of more than 200 of the world’s largest
financial services firms, technology companies, central banks,
regulators, and trade associations working together on Corda.
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. R3 recently launched Corda Enterprise, a
commercial distribution of Corda specifically optimised to meet the
demands of complex institutions.
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, comments: “Corda’s unique approach to
privacy and security will enable CULedger to develop ground-breaking
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.”
About R3
R3 is an enterprise blockchain software firm working with a broad
ecosystem of more than 200 members and partners across multiple
industries from both the private and public sectors to develop on Corda,
its open-source blockchain platform, and Corda Enterprise, a commercial
version of Corda for enterprise usage.
R3’s global team of over 180 professionals in 13 countries is supported
by over 2,000 technology, financial, and legal experts drawn from its
global member base.
The Corda platform is already being used in industries from financial
services to healthcare, shipping, insurance and more. It records,
manages and executes institutions’ financial agreements in perfect
synchrony with their peers, creating a world of frictionless commerce.
About CULedger
Denver-based CULedger
is a credit union-owned CUSO that focuses on delivering innovative
applications to credit unions through its cross-border global
distributed ledger platform. In working through a national consortium
made up of credit unions and trusted industry investors, CULedger has
pioneered new developments related to global self-sovereign digital
identity that will further enhance the trust credit unions have with
their members. CULedger provides advantages 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. To learn more about
CULedger, visit www.culedger.com.
Contacts
CULedger
Joelle Chiasson
William Mills Agency
+1
678-781-3074
joelle@williammills.com
R3:
Nick
Murray-Leslie
Chatsworth Communications
+44 (0)207 440 9780
contact@chatsworthcommunications.com
Charley
Cooper
R3
+1 917 855 8529
charley@r3.com