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Sunday, November 19, 2017

Pilot

Update

Thank you for your interest in the CULedger pilot. The first phase of our pilot is complete and we are pleased to note that we have begun the next phase of the CULedger pilot by approving the first Founding Stewards.

Based on a survey of the candidate Founding Stewards, the Sovrin Foundation Technical Governance Board (TGB) has prioritized completion of the Sovrin Validator Node code for Linux operating environments. While the TGB would prefer to simultaneously release a Windows Server version, integrating the cryptography libraries necessary to support Windows require significant additional work that we currently estimate will take until early Q3 to complete.  Since the neither the TGB or the Sovrin Trustees wish to hold up deployment of the Provisional Network, we will proceed with Founding Stewards who plan to host their Sovrin node on Linux. Credit unions who plan to deploy their Sovrin node on Windows Server will still be able to join the network as soon as that version is available.

At this time, we are no longer adding new nodes to the pilot so that we can focus on completing code for the Validator Nodes.  Once the Windows Validator Node codebase is complete, we will provide details here to make it available to credit unions that are interested.

We are very excited about the developments in this project and look forward to sharing further success later this year!

Pilot Program

CULedger is a research-to-action initiative that is investigating the viability of a private, permissioned distributed ledger (DLT) that can be used by credit unions. It is an effort to do for the credit union industry what R3 is doing for the banks: assemble a consortia of credit unions and CUSOs to build a ledger network dedicated the needs of credit unions.

The legal structure of the CULedger governing body is still being determined by the CULedger organizing group, which is raising funding from CUs and CUSOs to pay for R&D for CULedger. This group is spearheaded by MWCUA VP Innovation Rick Cranston; CUNA COO Rich Meade; and Best Innovation Group CEO John Best.

An initial CULedger Steering Committee meeting is being held on August 25th. The following committees are proposed, and additional committees will be formed at that meeting.

  • Project Management Committee – (falls under Steering Committee)
  • Network Committee
    • Security Committee
    • Implementation Committee
  • Application Committee
    • Governance Committee

For information on research and development expense opportunities, please contact Rick Cranston at RCranston@mwcua.com or 720.479.3342.

In the meantime, we are beginning with a technical pilot program that establishes a series of nodes that will form the network backbone for the distributed ledger. The goal of the pilot is to establish benchmarks for speed, uptime, and reliability in preparation for initiatives decided upon by the CULedger committees.

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