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Sep 29
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How AAIS Aligned Insurers and Regulators with the Hyperledger Fabric-Based openIDL Data Reporting Network

By Blog, Hyperledger Fabric

Since 1980, the United States has suffered more than 250 extreme weather disasters causing more than $1 billion damage each. Every time a natural catastrophe strikes, state regulators quickly ask insurance carriers to send them data about the affected properties. This data helps regulators model risk, monitor market activity, protect consumers, and plan for future emergencies.

These ad-hoc reports come on top of routine quarterly and annual statistics that insurance carriers must provide to regulators. But the reporting process was flawed. Insurers could barely keep up with the requests for data, in various formats and often with short deadlines, coming in from 50 different state regulators. 

As a national, not-for-profit member association that gathers, aggregates and anonymizes data from its property and casualty (P&C) insurance industry members to inform legislative policy, Chicago-based American Association of Insurance Services (AAIS) saw the reporting problems first hand. In fact, everyone in the industry saw the need for a more resilient and efficient resource: a system that would yield data to inform policymakers and also help carriers operate efficiently and the platform to compete and innovate in the marketplace.

AAIS invited carriers and regulators to brainstorm a solution they could build and deploy to address the industry’s data problem. As discussions progressed, the group raised the idea of using blockchain. And, to address the cost concerns, using open source software. By starting with an existing open source framework, AAIS wouldn’t have to code a blockchain platform from scratch. The team could get on with building the higher-level components and interfaces for their system, which they named the Open Insurance Data Link (openIDL).

That led to the choice of Hyperledger Fabric. After AAIS picked a blockchain platform, it needed a development partner with all the skills and resources to bring openIDL to life. The team decided to partner with IBM because of the organization’s track record with Hyperledger Fabric and their expert team. With shared philosophies that included design thinking and agile development, AAIS and IBM developed and tested a prototype in record time. With the first prototype, they were able to test five million records in less than 90 days.

In 2018, openIDL went into production as the first blockchain network connecting data across the American insurance industry. Insurers have the option to manage their own node or use the multi-tenant environment managed by AAIS. And, to help insurers spin up their own nodes, IBM created openIDL in a Box: a managed service offering everything an insurer needs to join the blockchain network.

Hyperledger worked with AAIS to document key steps in engaging stakeholders in planning openIDL and building a network that ensures data privacy for insurers and reporting for regulators. Read the full case study here for more on the design process, solution architecture and next steps for openIDL.

Sep 28
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#HyperledgerFinTech: A sampling of production applications using Hyperledger technologies in the finance market

By Blog, Finance, Hyperledger Besu, Hyperledger Fabric, Hyperledger Indy, Hyperledger Iroha

The financial services market has long turned to technology to address a range of back-end challenges and enhance customer-facing services. Blockchain is increasingly becoming a go-to technology for advancing many different financial systems and solutions with different Hyperledger platforms serving as the core for an array of applications now in production. 

Read on for just a sampling #HyperledgerFinTech solutions, built using a mix of Hyperledger technologies:

Bakong

Sponsored by the National Bank of Cambodia, the country’s central bank, Bakong is the first retail payments system in the world using blockchain technology. Built on Hyperledger Iroha, Bakong delivers value for customers, merchants and banks. Individuals can now transfer money and buy from merchants with a simple smartphone app. Merchants gain a fast, cashless, and secure payments system. And banks can do interbank transfers at much lower cost.

Bakong was developed by Soramitsu and, after a soft launch in 2019, is now expanding with 16 financial institutions using the system and more expected to join in the near future. The project was also designed to promote financial inclusion for the country’s large number of unbanked citizens. Any citizen of the country can open a Bakong account, even if they don’t have a traditional bank account. The more than 500 merchants that accept Bakong can be viewed in a map inside the app. 

daura 

Built atop the private Swiss Trust Chain run by Swisscom and Swiss Post and powered by Hyperledger Fabric, daura is a digital share platform for financing and investing in Swiss SMEs. With daura, the share register is easily digitized and capital increases are carried out quickly and inexpensively at the push of a button. Shares can be split into any number of small lots and the share register is always digitally maintained, complete and up-to-date. With daura, companies have also transitioned virtual Annual General Meetings as a response to COVID-19 with authorization and access are granted directly via the blockchain. 

ioCash

ioBuilders is a blockchain technology company focused on building regulated fintech and enterprise solutions based on distributed ledger technology to help businesses succeed in their blockchain adoption. The company offers professional services, including technical, business and regulatory, and develops its own product line. ioBuilders has been one of the first adopters and advocates of Hyperledger Besu, providing essential feedback to improve its enterprise requirements capabilities. 

ioCash, one of ioBuilder’s core products, is a fintech platform enabling the use of regulated fiat money on blockchain networks, making it programmable with smart contracts and able to interact with other blockchain use cases. ioCash’s platform operates under an electronic money licence, providing accounts (with or without IBAN) and complex payments functionalities through API and smart contracts connectivity. ioCash is also available as a technology license for financial institutions that hold banking or electronic money licences and are aiming to add the benefits of blockchain into their payment systems. 

Memberpass

CULedger, a credit union service organization (CUSO) that began when a group of credit unions came together in 2016 as a direct response to the increasing threat of fraud, set out to bring a decentralized identity solution product for credit unions to market. The result was MemberPass, a permanent, portable digital identity credential for credit union members.

Built in partnership with Evernym and using Hyperledger Indy, Memberpass replaces vulnerable authentication processes such as common knowledge-based questions. Now credit unions are able to issue a digital credential to members, giving them a hassle-free way to control and prove their identity quickly and easily while protecting their personal information.  

Verified.Me 

Verified.Me offers a secure and convenient way to help Canadians verify their identities.

Verified.Me is a service offered by SecureKey Technologies Inc. The Verified.Me service was developed in cooperation with seven of Canada’s major financial institutions – BMO, CIBC, Desjardins, National Bank of Canada, RBC, Scotiabank and TD. The Verified.Me network continues to evolve adding new identity providers and service providers to make your life easier.

Verified.Me is built on top of the IBM Blockchain Platform which is based on Linux Foundation’s open source Hyperledger Fabric v1.2, and will be interoperable with Hyperledger Indy projects. 

Users of the Verified.Me mobile app or web browser experience are able to get a free credit score with Equifax, register with Sun Life, verify their identity when registering for Dynacare Plus, an online and mobile service that lets users manage their health remotely, and more.

Join the conversation about solutions and applications in the financial service market with #HyperledgerFinTech this month on social channels. Or get involved with the Capital Markets or Trade Finance Special Interest Groups.

If you are interested in peer-to-peer transactions, mark your calendar for a webinar hosted by CoinDesk at 11:00 am ET on October 20th. A panel of experts on different Hyperledger platforms will be discussing “Governance, standards and interoperability: Getting past the roadblocks to peer-to-peer financial transactions.” Go here to find out more.

Sep 25
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Weekend Update: This Week’s Round-up of Remote Blockchain Learning Resources

By Blog, Weekend Update

Welcome to the Weekend Update. Our goal with this weekly post is to share quick updates about online education, networking and collaboration opportunities and resources for the open source enterprise blockchain community. 

If you have suggestions for resources or events that we should spotlight in a future Weekend Update, let us know here using #HLWeekendUpdate. 

Blockchain for Social Impact And Sustainability Virtual Conference

During this virtual conference, hear from a line-up of experts about how they are using  innovative technologies and, especially blockchain, to implement processes, activities, and business practices that advance the principles of sustainability and consequent social impact.  

The conference kicks off on Wednesday, September 30, at 9 a.m. EDT. Go here to get more details. 

Webinar: Umbra – Challenges with Hyperledger Fabric simulation and debugging of applications

This webinar showcases Umbra, an emulation tool for Hyperledger blockchains. Raphael Vincente Rosa will introduce attendees to Umbra and help them get familiar with installing Umbra and getting their first Fabric network up and running. Learn how to do simple examinations of the network layout and packet flows and some simple debugging to confirm that the network is running. There will also be explanations of how to use Umbra’s network fuzzing features and how to scale to multiple servers. Additionally, there will be a discussion of this year’s Umbra-related Hyperledger mentorship projects.

Tune on Wednesday, September 30, at 10:00 am EDT. For more information and to register, go here.

Case Study: LedgerDomain’s solution for the pharmaceutical supply chain

Learn more about how LedgerDomain’s Hyperledger Fabric-based BRUINchain improves tracking and tracing of prescription drugs in this new case study.

Virtual Meetups

See the full Virtual Meetup schedule here. 

Sep 24
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Tackling Climate Change with Blockchain: An Urgent Need, Ready Opportunity and Call to Action

By Blog, Special Interest Group

If blockchain is really going to change the world, then why are so many of us stuck in pilot purgatory? Is it because our distributed ledgers are too disruptive to the existing incumbents? Or that they already have solutions that are good enough, at least for now, so breakthrough ideas like blockchain could wait on the back burner?  

Is there a large scale, urgent business problem out there that requires massive collaboration and does not have existing incumbents?

We believe there is one: Climate change.  

While we as a society recognize that climate change is real and have the technologies to fix it, we lack a way to get all the parts of our economy — businesses, investors and banks, consumers, and regulators — to work together on it.  Part of the problem is we have to work across traditional boundaries of industries and countries and integrate vast supply chains around the world. And we have to do it without recognized central authorities because they don’t exist at this point.  

Fortunately, blockchain, or distributed ledger technologies (DLT), may be just the right tool for this challenge: It is designed for coordinating trust and collaboration across multiple parties, with greater speed and much greater scale than ever before. With blockchain, we could record trusted Greenhouse Gas (GHG) emissions for every type of economic activity and transfer them across supply chains as products and services are transacted.

The Climate Action and Accounting Special Interest Group (CA2SIG) of the Linux Foundation’s Hyperledger project is an open source effort to foster a collaborative network of climate, DLT, and other emerging technology organizations (i.e., universities, NGOs, government, startups, corporations, multilateral development banks, etc.) that can create a center of gravity around the role of DLT and open source software to address challenges in the global climate action, policy and digital accounting space.  

We hope that our work could act as a shared initiative where participants can contribute value to and share explorations in the use of DLT alongside other emerging technologies such as IoT (Internet of Things), big data, and machine learning to address the challenge of keeping a transparent climate accounting system towards the climate targets set in the 2015 Paris Agreement.

The CA2SIG is currently comprised of the following working groups:

Carbon Accounting and Certification Working Group, which is working on automating accounting and transactions of emissions:

Consumer Disclosure Working Group, which is working on ways of making customers aware, in a meaningful, understandable way, of the impact they bring about on the environment while going about their daily life:

Climate Accounting Standards and Protocols Working Group, which is focused particularly on the protocols and standards that will enable consistent climate accounting :

Together, these working groups are building software for the following goals:

  • Implementing GHG emissions accounting using verified data and models, which could publish trusted emissions data for a wide variety of business activities.
  • Passing GHG emissions up to national and supra-national structures.
  • Making accurate GHG emissions available at the consumer level.

By making our work open source, we hope to enable more developers to build on our work and extend GHG accounting to every part of our economy around the world.  

What we’re asking is for people to help us integrate our software into more activities. Climate change is happening because every little thing that is happening is contributing to it just a tiny bit. We want to be able to get data on those activities, model their emissions, and start making people aware of their impact and work together to reduce emissions.  

Whether you’re an experienced developer, from the business side, or a private individual, we could use your help in linking real world activities to climate change and coming up with solutions together. Join us on the Hyperledger Wiki for more details and links to regular calls.

Sep 22
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Answering the FDA’s call: LedgerDomain’s Hyperledger Fabric-based BRUINchain improves tracking and tracing of prescription drugs

By Blog, Healthcare, Hyperledger Fabric

Four billion prescriptions were dispensed at US pharmacies in 2019, and even conservative estimates suggest that over 100 million prescriptions may be incorrectly dispensed. To address this problem, healthcare leaders are actively working to put new tools into the hands of pharmacists to ensure the right drugs reach the right people.

Part of that effort is the Drug Supply Chain Security Act (DSCSA), an ongoing, decade-long effort to track and trace prescription drugs in the United States. The DSCSA is intended to enhance the FDA’s ability to help protect consumers from drugs that may be counterfeit, stolen, contaminated, or otherwise harmful. The vision is to have an interoperable system in place by 2023 that will allow for drug tracing, product verification, and prompt detection and response protocols to handle all suspect medications. To get the system in place, the FDA turned to the public in 2019 and asked for new, cutting-edge approaches to improve the prescription pipeline.

LedgerDomain, an enterprise-grade blockchain solutions provider known for its work on developing the next generation of healthcare and pharmaceutical supply chains, was one of the companies that responded to the FDA’s request. LedgerDomain’s proposal of a blockchain-based solution in collaboration with UCLA and the pharmaceutical company Biogen was selected by the FDA as part of its pilot project program. 

LedgerDomain’s pilot centered on the development and live testing of BRUINchain, a blockchain-based system that meets DSCSA standards for pharmaceutical dispensers all within a shared-permission yet private ecosystem. While the pharmaceutical supply chain has numerous stakeholders, BRUINChain, which is built on Hyperledger Fabric, establishes one version of the truth for the pipeline that is immutable and invaluable.

The team tested BRUINchain within UCLA Health’s network of 500 pharmacists and technicians, focused on tracking the drug Spinraza, the first medication approved to treat children and adults with a rare and often fatal genetic disease called spinal muscular atrophy. The results exceeded UCLA Health and LedgerDomain’s expectations. The BRUINchain app’s barcode scanning functionality on iPhones was 100 percent effective, and the Hyperledger Fabric-based system was able to track every dose of Spinraza at UCLA Health, down to which refrigerator each dose was stored in across the campus. Even before the pilot ended, the team was adding new functionality and products as the network of pharmacists grew more reliant on the BRUINchain system. 

Hyperledger teamed up with LedgerDomain on a detailed case study on the BRUINchain pilot, including deployment details and results, projected cost and time saving and next steps based on the solution’s success to date.

Read the full case study here.

Sep 21
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Hyperledger Latinoamerica, a New Regional Chapter

By Blog

Hyperledger Latinoamerica is a new regional chapter for 20 countries bound together by common language and similar culture. Spanish is the world’s third most widely spoken native language after Mandarin Chinese and Hindi, with 450 million speakers spread over three continents: North, Central and South America, Spain, and Equatorial Guinea in Africa.

Our goals as a chapter are to promote adoption of Hyperledger projects, engage users and developers, foster regional contributions, and provide a platform for learning, training and collaboration on blockchain and DLT ecosystems.

Hyperledger Latinoamerica began with eight Hyperledger Meetup communities in Argentina, Bolivia, Chile, Colombia, Ecuador, Ciudad de Mexico and Mérida in Mexico, and Panamá. It is open to all meetups worldwide, as well as SIGs, WGs, and other Hyperledger communities.

After two months of planning guided by David Boswell, the chapter  launched last June 17, and since then it has grown by leaps and bounds. 

We have two series of biweekly meetings, one for panel discussions of general issues and another for use case webinars, with an average monthly attendance of 800. In parallel, two main projects gather wider interest day by day: a free introductory course on Hyperledger Fabric ‘en Español,’ and the translation of Fabric documentation to Spanish.

The free online course “Hyperledger Fabric ‘en Español’” began August 20th and lasts 11 sessions. We have an enrollment of 565 participants, and an average attendance of 180 attendees from 28 countries. Ricardo Ruano from Business Blockchain gives this course, together with Bram Dufour and Juan Pablo Ramírez from Grupo Bancolombia. There is a free Certificate of Assistance and a 30% bonus for official certification by the Linux Foundation. 

Our project “Fabric ‘en Español’” is an open source collaboration to create new translations for Hyperledger Fabric documentation. It is coordinated by Claudio Ceballos Paz, with the initial support of David Boswell at Hyperledger, María Teresa Nieto from Telefonica and Anthony O’Dowd from IBM Tiger Team and Enablement. In the first week, we gathered a round of six volunteers. Help us rally more!

Join our chapter. “Juntos podemos lograrlo” – together we can succeed!

Find us in the chats:
https://chat.hyperledger.org/channel/community-latinoamerica
https://chat.hyperledger.org/channel/i18n-espanol

Sep 18
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Weekend Update: This Week’s Round-up of Remote Blockchain Learning Resources

By Blog, Weekend Update

Welcome to the Weekend Update. Our goal with this weekly post is to share quick updates about online education, networking and collaboration opportunities and resources for the open source enterprise blockchain community. 

If you have suggestions for resources or events that we should spotlight in a future Weekend Update, let us know here using #HLWeekendUpdate. 

2020 Forbes Blockchain 50 Symposium

Forbes will be honoring the companies on the 2020 Forbes Blockchain 50 list with a free event on Tuesday, September 22, at 2:00 pm EDT. The virtual gathering will include a pair of roundtable discussions with key industry leaders about profitable strategies for moving forward in the new decade. Hyperledger’s Daniela Barbosa will take part in the panel “Infrastructure Players: Smart Strategies for Building on Blockchain.” 

For more information and to register, go here.

Telecom Special Interest Group Discussion: Using Hyperledger Fabric to Fight Spam Calls in India

All are welcome to join Tech Mahindra’s Rajesh Dhuddu for a presentation and discussion about a plug-n-play solution to curb spam calls, built on Hyperledger Fabric, that is deployed by three major telcos in India. The talk is hosted by the Hyperledger Telecom Special Interest Group (SIG).

Tune in on Thursday, September 24, at 9 a.m. PDT. Go here for more information. 

Blockchain Developer Course en Español 

The Hyperledger Latinoamérica Chapter continues its Spanish language Hyperledger Fabric training course series with sessions this week on use of private data in permissioned networks (September 19) and implementation and use of metrics with Hyperledger Caliper (September 24). 

For more details and the full schedule, go here. 

Virtual Meetups

See the full Virtual Meetup schedule here. 

Sep 16
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Hyperledger is Enabling New Blockchain-Based Business Models for 5G

By Blog, Hyperledger Fabric, Telecom

The fifth generation of cellular networks or 5G promises revolutionary improvements compared to the previous generation that reaches beyond merely multiplying the bandwidth and reducing latency. 5G is expected to enable a wide range of new internet-based services such as vehicular communications and Smart City infrastructure that, in addition to connectivity, require on-demand fine-grained infrastructure and resource access to operate. Hence, the allocation of the underlying resources has to be capable of supporting and adapting to sudden changes in demand for resources and be able to flexibly provide customized bundles of resources to fit the demands of the vertical industries using the 5G infrastructure.

Entering the 5G market, an operator may experience up to 65% increase in RAN deployment and infrastructure costs [1]. Discovering new ways to more efficiently allocate resources can, to some extent, alleviate the massive increase in the infrastructure cost. Network and infrastructure sharing is one of the solutions that could help major operators to gain considerable returns by leasing out portions of their idle resources to other service providers that o are willing to operate in the same geographical region.

A Decentralized Marketplace for Network Infrastructure Sharing

The practice of infrastructure/network sharing dates back to the previous generations of cellular networks. However, these sharing models were typically in the form of bilateral agreements and were limited to long-term sharing of passive and seldom active network resources. Such sharing models cannot support either the on-demand short term sharing requests or the larger markets where the parties involved in resource trading exceed only two operators. On the other hand, the intense competition in the telecoms industry rules out the prospect of a centralized marketplace where a trusted intermediary is in charge of the market and makes the final decision regarding the allocation of the resources and the price. Therefore, a decentralized approach is required to incentivize participation by the infrastructure providers, network operators, and over-the-top service providers.

Hyperledger Fabric blockchain technology can provide the foundation for the described decentralized marketplace where all the market players could participate in the resource allocation and pricing process in a transparent and trustworthy way and without relying on a third party. 

Case Study: 5G Network Slicing

Network virtualization technology allows the division of network resources into isolated virtual slices of the network that could be then offered to other users. This creates a new business opportunity for network operators and infrastructure providers to monetize their idle resources. Therefore a new business model has been gaining attention where operators and service providers can trade network resources in a marketplace equipped with a market mechanism(e.g., auctions). The aim is to develop a marketplace that does not rely on a third-party broker to conduct the market.

Why Hyperledger?

Hyperledger Fabric is an open-source project that is built as a modular software so that every piece of it can be tailored into the needs of the developers. Besides, with Hyperledger Fabric, there are no coding language lock-ins as the platform does not force the developer to use a particular language for the smart contracts. Finally, compared to other blockchain frameworks, the supported high transaction throughput and low latency make it a right candidate for 5G use cases.

Scenario:

A number of operators and service providers are participating in a marketplace to buy/sell network slices [2]. They each offer ask/bid prices for the offered quantity of a network slice and the smart contract that has to be endorsed by every single operator decides the final allocation and price of the network slices.

  • The commodity: A network slice consisting of computing, RAN, and storage resources.
  • Member organizations: Infrastructure providers, network operators, and service providers.
  • Technology: Hyperledger Fabric v 1.4.1, Raft ordering service
  • Architecture: Five organizations each with one peer node and 10 Raft orderers.
  • The Smart Contract: A sealed-bid double-sided auction mechanism that allows bilateral trade of network slices.

Conclusions:

The research team at Connect Centre [3] have developed the smart contracts and deployed the Hyperledger Fabric network on one of the major public cloud provider’s infrastructure. The results of the performance benchmarks of the blockchain solution are reported in [2]. In addition to the 5G slicing, other resource sharing problems in 5G are expected to benefit from the blockchain technology. One other example is Virtual Network Function (VNF) marketplaces where network operators and software vendors could offer their virtualized network services such as Firewall, DNS, CDN, etc. 

[1] Future Networks. “5G-Era Mobile Network Cost Evolution.” Accessed September 10, 2020. https://www.gsma.com/futurenetworks/wiki/5g-era-mobile-network-cost-evolution/.

[2] N. Afraz. and M. Ruffini, “5G Network Slice Brokering: A Distributed Blockchain-based Market,” in EuCNC conference 2020.

[3] CONNECT – the Science Foundation Ireland Research Centre for Future Networks and Communications, https://connectcentre.ie/

If you’re interested in how blockchain is being used in the telecom industry, get involved with the Hyperledger Telecom Special Interest Group. 

About the author
Nima Afraz is a postdoctoral researcher with Connect Centre for Future Networks and Communications, Trinity College Dublin. He is a member of Hyperledger Telecom Special Interest Group. His research interests include network economics, network virtualization and blockchain for telecoms.

Cover image by mohamed Hassan from Pixabay

Sep 11
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Weekend Update: This Week’s Round-up of Remote Blockchain Learning Resources

By Blog, Weekend Update

Welcome to the Weekend Update. Our goal with this weekly post is to share quick updates about online education, networking and collaboration opportunities and resources for the open source enterprise blockchain community. 

If you have suggestions for resources or events that we should spotlight in a future Weekend Update, let us know here using #HLWeekendUpdate. 

Webinar: Introduction to Minifabric and How to Use It

Minifabric is the tool to help you set up a Fabric network easily and quickly. It also helps application developers with needed connection profiles and wallets when a Fabric network is up and running. In this talk, Tong Li from IBM will introduce to the audience Minifabric and also demonstrate how to develop go applications using these profiles and monitor the Fabric network using Hyperledger Explorer.

Tune in on Wednesday, September 16, at 10 a.m. EDT. Go here for more information. 

Case Study: CULedger’s MemberPass™ – a permanent, portable digital identity solution for credit union members

Get the details on how CULedger protects credit unions from fraud with Hyperledger Indy in this new case study.

Blockchain Developer Course en Español 

The Hyperledger Latinoamérica Chapter continues its Spanish language Hyperledger Fabric training course series with sessions this week on digital identity with PKI services on Hyperledger Fabric (September 12) and distributed orderer with RAFT (September 17). 

For more details and the full schedule, go here. 

Virtual Meetups

See the full Virtual Meetup schedule here.

Sep 08
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CULedger’s MemberPass™ delivers fraud protection for credit unions and their members using Hyperledger Indy

By Blog, Hyperledger Indy

How many times have you answered, “What’s your mother’s maiden name?” or named your first pet when setting up a new account? Today, those common knowledge-based authentication questions have become the most vulnerable forms of customer identification as financial institutions are being increasingly hit by fraudsters in the call center.

CULedger, a credit union service organization (CUSO) that began when a group of credit unions came together in 2016 as a direct response to the increasing threat of fraud, took up the challenge of improving the member identity authentication process across all delivery channels. CULedger was formed specifically to bring a decentralized identity solution product for credit unions to market. Hence MemberPass™—a digital identity credential held by credit union members that protects credit unions and their members from identity theft and fraud in all financial interactions, from call center authentication to lending to opening new accounts—was born.

CULedger worked with decentralized identity organization, Evernym, to build MemberPass™ (formerly called MyCUID) with Hyperledger Indy—a distributed ledger software project that is interoperable with other blockchains or can be used on its own to power the decentralization of identity. With Hyperledger Indy at its core, MemberPass™ serves as a permanent and portable digital identity that reduces member friction and injects more trust in digital interactions within credit unions.

During a pilot program with three credit unions in 2019, initial results for MemberPass™ were promising. Whereas authentication in the call center could take anywhere from 90 to 120 seconds—or sometimes even up to five minutes depending on the transaction—MemberPass™ reduced that process down to 15 seconds or less.

There are now thousands of MemberPass™ credentials in live production, with the expectation that number will grow year after year as the focus shifts to scaling and evolving the network. Credit unions recognized the advantages of MemberPass™ from the get-go and are looking to get more of their members using the digital identity credential. One participating credit union is working with CULedger on a strategy for issuing new MemberPass™ accounts inside its branch locations as part of their new member onboarding process. Other credit unions have expressed interest in implementing MemberPass™ in its Internet banking channel and its mobile banking channel. More use cases are being defined as more credit unions begin to understand the power of this privacy-enhancing technology.

Hyperledger teamed up with CULedger to capture the details behind the launch of MemberPass™ as well as steps that are underway to grow adoption and interoperability. Find out more in the full case study.