CU Ledger, a consortium of U.S. credit unions, announced on Monday, March 11, that it will work with IBM to develop blockchain solutions to improve services such as identity authentication and know-your-customer (KYC) compliance. CU Ledger also indicated it is looking to blockchain to improve payments and lending.

Marie Wieck, General Manager, IBM Blockchain explained that through their collaboration, “credit unions will be able to cooperate and receive shared value from quickly exchanging sensitive data in a permissioned, individually controlled, and transparent way. This decentralized approach using blockchain helps put the customer in control of their own identity.”

CU Ledger is a credit union-owned CUSO (credit union service organization), formed in 2017 by a consortium of U.S. credit unions interested in exploring and developing blockchain solutions for their business needs.

CU Ledger expects its blockchain network to be available to credit unions beginning later in 2019.

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Christopher L. Boone

Chris Boone focuses his practice on regulatory issues related to payment processing, blockchain, advertising and marketing, transportation, and telecommunications. Chris provides counsel on regulatory compliance, contract negotiations, and general business matters. He also regularly assists clients in responding to federal and state investigative…

Chris Boone focuses his practice on regulatory issues related to payment processing, blockchain, advertising and marketing, transportation, and telecommunications. Chris provides counsel on regulatory compliance, contract negotiations, and general business matters. He also regularly assists clients in responding to federal and state investigative inquiries, demands, and complaints from the Federal Trade Commission (FTC), the Federal Communications Commission (FCC), state attorneys general, and other federal and state authorities.

Ed Wilson

Ed Wilson has a broad practice assisting private and government parties in complying with – and shaping – the laws and policies governing interactions with the federal government in the areas of financial services, blockchain technology, domestic and non-U.S. investments in national security-related…

Ed Wilson has a broad practice assisting private and government parties in complying with – and shaping – the laws and policies governing interactions with the federal government in the areas of financial services, blockchain technology, domestic and non-U.S. investments in national security-related industries, political activities, and government contracting. He previously served as deputy and acting general counsel at the U.S. Treasury Department, and held other, senior positions at the Executive Office of the President and the Treasury.

Photo of Christopher O'Brien Christopher O'Brien

Chris O’Brien is a member of Venable’s Entertainment and Media Group and a co-chair of Venable’s Blockchain and Digital Currencies Group. He is a corporate attorney who works with major corporations, established companies, and nascent enterprises. Chris advises buyers, sellers, investors, and joint…

Chris O’Brien is a member of Venable’s Entertainment and Media Group and a co-chair of Venable’s Blockchain and Digital Currencies Group. He is a corporate attorney who works with major corporations, established companies, and nascent enterprises. Chris advises buyers, sellers, investors, and joint venture partners in a range of corporate transactions and financings. He frequently serves as outside general counsel for his clients, including content producers and distributors, talent agencies, operating companies across a range of industries, and varied financing sources.