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IBM Cuts Credit Unions Deal For Blockchain Services In $1.7 Trillion Industry

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IBM - aka ‘Big Blue’ - and Denver-based credit union service CULedger, are to collaborate to develop new blockchain-based services for credit unions that globally have some 260 million members and over $1.7 trillion in assets. Improving customer satisfaction and building greater trust are the goals.

Platform delivers the end-to-end capabilities, which clients need to quickly activate and develop, operate, govern and secure their own business networks.

By creating a permissioned blockchain network where services can be shared among all credit unions, CULedger claims that it will improve services such as identification authentication, regulatory compliance around know-your-customer , lending and payments, while making it easier and more efficient for consumers to conduct any interactions that require authentication.

Credit union members worldwide will also have access to a CULedger issued digital credential, called “MyCUID” that adheres to the privacy-by-design requirements of self-sovereign identity supported by the Sovrin Foundation.

 

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Smart use of BlockChain. Finally someone moving past the failed CryptoCrap. IBM is raking in an amazing amount of tech services. I honestly can't wait till QuantumComputer are scaled down enough to be sold to the individual customers

Interesting..🤔

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