CULedger joins global blockchain network

CULedger, a builder of blockchain-based products for credit unions, has joined Hyperledger along with 13 other organizations, the Credit Union National Association announced today.

Hyperledger is an open-source, international consortium of 231 organizations in 25 countries working on business blockchain and distributed ledger technologies, and hosted by The Linux Foundation. It offers 10 products intended to enable partner organizations to build industry-specific platforms and hardware systems to support their transactions.

Last year, the National Association of Federally-Insured Credit Unions became the first financial industry trade association to join the consortium.

Hyperledger is a way for developers to utilize code from multiple projects. Now that CULedger is part of the consortium, other Hyperledger partners will be able to use the architecture around CULeder's identity products.

Similar to its work with Self-Sovereign Identity, CULedger expects to benefit from being a part of Hyperledger Indy, one of the project's distributed ledgers for decentralized identity.

On March 19, Hyperledger added an incubated project called Hyperledger Caliper, a blockchain performance benchmarking tool. On March 20, Hyperledger released version 1.1.0 of Hyperledger Fabric, a blockchain framework implementation intended as a foundation for developing applications or solutions with a modular architecture.

CULedger joins a global collaboration of leaders in finance, including Hyperledger members such as Cisco, Intel, SAP, American Express, IBM, Samsung and other international corporations.

"It's going to be a quality user group to gain some best practices from," Julie Esser, CULedger's chief engagement officer, told Credit Union Journal.

Pre-approved non-profits, open source projects and government entities can join Hyperledger at no cost as associate members.

“The accelerating pace of growth and adoption of Hyperledger across industries and geographies underscores the power of our community and the technologies it is building,” Brian Behlendorf, executive director of Hyperledger said in a press release. “It also reflects a global awakening to the impact of blockchain for business. Every day, we hear from organizations with new ideas and new applications for our frameworks. Our growing and diverse membership is key to turning that energy and innovation into the building blocks for increasingly business critical deployments.”