In Canada, the Large Credit Union Coalition (LCUC) is grabbing the attention of the world as it has joined the CIOs of the R3’s global blockchain ecosystem. It is a matter of great interest because LCUC is a group of the 16 largest credit unions in the country.
LCUC will also join several networks of over 200 financial institutions, regulators, professional services firms, trade associations, and technology companies to develop on Corda of R3, especially for developing its blockchain platform businesses.
Further, defining the Corda which is the only blockchain platform designed for several businesses operations. Moreover, Corda offers access to an active network of interoperable blockchain applications for finance and commerce.
In a statement, David E. Rutter, CEO of R3, states that “Canada is a hub for blockchain innovation and remains a key market for R3. We are pleased to welcome LCUC on board and look forward to working with its group of CIOs to enrich the services offered to their members with Corda’s unique enterprise-focused blockchain technology. The LCUC is thrilled to be working with R3 and exploring the distributed ledger technology space more closely, building on some of our members’ successes with the technology. The wealth of knowledge and possible use cases we can dive into in short order were among some of the key reasons we felt partnering with R3 was the right choice for us.”
Yves Auger, CIO at Servus Credit Union, also shared his views stating that “The LCUC is thrilled to be working with R3 and exploring the distributed ledger technology space more closely, building on some of our members’ successes with the technology. The wealth of knowledge and possible use cases we can dive into in short order were among some of the key reasons we felt partnering with R3 was the right choice for us.”