BTC$57 198.62


ETH$3 069.78




Binance Coin




USD Coin


New Blockchain Solutions for Global Credit Unions

12 Mar 2019


New Blockchain Solutions for Global Credit Unions from CUSO CuLedger and IBM Partnership

Report revealed today that new Blockchain-based solutions are emerging from a partnership between the two giants operating in the IT and credit union industry.

The two companies announced in a press release that they are partnering to develop sustainable solutions for credit union companies. These blockchain-based solutions are hoped to introduce new processes and business models to the industry.

According to them, the solutions will target some key service areas of credit union companies such as lending & payment services, digital identity authentication, Know-Your-Customer compliance and some other processes requiring consumer authentication.

Their reason for basing these solutions on the blockchain technology is to ensure that members of credit unions can access financial services no matter their locations. Giving that the industry has more than 260 million members and over $1.7 trillion circulating assets, these solutions will simplify their operational processes.

On the benefits of the partnership

The press release stated that every member of the credit union would have access to “MyCUID,” a “customizable CULedger-issued digital credential”. By this digital identification, members of different credit unions can easily authenticate every financial transaction between them.

About the services

Based on the timeline for the services, the report states that the first product will be available before this year ends. Therefore, members of credit unions worldwide will start reaping the fruits of this joint project on the CULedger network very soon.

In an earlier report, it was gathered that this is not the first time for CUSO when it comes to improving the industrial processes. On December 2018, the organization had joined a software firm R3 which offers a distributed database tech to financial institutions. Then, the firm led a consortium of more than 200 members which came together to develop “Corda” which was designed to simplify the processes of financial transactions and protect transaction data.

CUSO aim of joining R3’s blockchain ecosystem then was to streamline their operational processes. Also, they made a move to tighten the security of the members against cyber-attacks and online fraud.

By partnering with IBM in pursuit of blockchain-based solutions for members, it is evident that the organization is aiming to achieve more efficiency in members operations.

Statements by IBM Manager

According to what Marie Wieck says, this partnership will enable credit unions to be corporating freely amongst themselves. They can operate as a singular entity by exchanging data quickly in a more transparent and permissioned way. According to the manager, each credit union will still have control over their operations while still working together with others.

In the house of the tech giant IBM, reports reveal that they have continued in carrying out multiple projects aimed at solidifying users’ activities. Presently, they have many new patents and enterprise blockchain offerings under their “IBM Blockchain Project.”

Also, reports reveal that the tech giant recently launched an “in-house security testing tool.” According to the company, the tool will improve the identity authentication possesses, access permission process and address the vulnerabilities of smart contract.


NordFX Copy Trading: A Comprehensive Guide to Maximizing Profits
NordFX Copy Trading: A Comprehensive Guide to Maximizing Profits
Tips to Choose the Right Second Citizenship Program
Tips to Choose the Right Second Citizenship Program
Bitcoin’s continued slide down
Bitcoin’s continued slide down
A new round of crypto market mistrust
A new round of crypto market mistrust
Bitcoin holds its range, but pressure mounts
Bitcoin holds its range, but pressure mounts
Bitcoin unlikely to end correction
Bitcoin unlikely to end correction
Bitcoin looks set to take a severe dive
Bitcoin looks set to take a severe dive
Bitcoin set for a deeper correction
Bitcoin set for a deeper correction
Bitcoin falls under pressure
Bitcoin falls under pressure

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 70% 54 $57 198.62 -2.78% 3.30% $1 127 960 877 064 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 73.6% 44 $3 069.78 -2.59% 4.37% $369 022 410 046 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 92.8% 1 $1.000049 0.01% 0.03% $112 374 361 210 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 76% 48 $523.00 -2.48% 7.59% $77 185 085 926 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 80% 32 $135.54 -5.77% 4.36% $62 886 704 296 SOL 7 days price change
6 USD Coin (USDC) USDC USD Coin predictions 93.2% 2 $1.000349 0.03% 0.03% $33 989 384 478 USDC 7 days price change
7 XRP (XRP) XRP XRP predictions 78.4% 43 $0.471558 4.71% 13.19% $26 315 443 737 XRP 7 days price change
8 Toncoin (TON) TON Toncoin predictions 82.4% 32 $7.22 0.51% 3.53% $18 109 064 254 TON 7 days price change
9 Dogecoin (DOGE) DOGE Dogecoin predictions 71.2% 60 $0.105755 -3.86% 6.14% $15 343 354 266 DOGE 7 days price change
10 Cardano (ADA) ADA Cardano predictions 80.8% 38 $0.398225 0.47% 14.40% $14 287 339 544 ADA 7 days price change
11 TRON (TRX) TRX TRON predictions 78.4% 33 $0.136606 1.69% 8.47% $11 903 001 719 TRX 7 days price change
12 Lido stETH (STETH) STETH Lido stETH predictions 94.8% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
13 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 95.6% 1 $0.116354 -0.46% 0.23% $10 171 995 609 WTRX 7 days price change
14 Wrapped Bitcoin (WBTC) WBTC Wrapped Bitcoin predictions 93.2% 2 $65 806.83 0.78% -2.68% $10 083 957 608 WBTC 7 days price change
15 Avalanche (AVAX) AVAX Avalanche predictions 70.4% 54 $25.04 -3.32% 3.04% $9 876 477 273 AVAX 7 days price change

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.

© 2015-2024

The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.