Using IBM’s existing blockchain technologies, the two will create a decentralized ledger that will serve as an audit trail that will create new business models and transform business processes.
The new blockchain is aimed at reaching a broader member audience. The new blockchain network will be shared among all credit unions to improve identification authentication, regulatory compliance, lending and payments. Credit union members will be able to more easily make transactions.
IBM and CULedger plan to make l services available on the blockchain this year.
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