IBM and CLS develop blockchain app store

IBM and CLS are launching LedgerConnect, a platform that enables financial institutions and software vendors to share and consume apps and services on a distributed ledger network.

Barclays and Citi are among nine financial institutions that are participating in a proof of concept. They have selected vendors including Baton Systems, Calypso, Copp Clark, IBM, MPhasis, OpenRisk, SynSwap and Persistent Systems to participate. Following the PoC, the plan is to make the platform widely available.

Uniquely positioned

Alan Marquard, Chief Strategy and Development Officer at CLS, says: “LedgerConnect is part of our strategy to explore how we can provide safe and robust solutions that create efficiencies and reduce risk for a diverse range of firms operating in the financial markets. We expect LedgerConnect to deliver enhanced efficiencies and economies of scale over single-purpose distributed ledger networks.”

“Together IBM and CLS have been early pioneers in advancing blockchain solutions for the financial services space,” says Marie Wieck, General Manager, IBM Blockchain. “Building on the success of CLSNet and leveraging the strong relationship CLS has with the world’s leading financial institutions, LedgerConnect is uniquely positioned as a blockchain marketplace for the financial services industry, which will accelerate innovation across the ecosystem with value added services for blockchain networks.”