Saturday, February 24, 2018


CU Ledger Could Save Costs, Enhance Banking

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CU Ledger, a proof-of-concept project based on distributed ledger technology and led by CUNA and the Mountain West Credit Union Association, was designed to prepare credit unions for the future.

“This could be a real game changer,” Rich Meade, chief of staff/COO for CUNA, said. “This technology could be the next email, the next internet, the next big thing, so we’re really excited about doing that.”


Blockchain’s Backers Gather to Push Governance for Technology

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Some of blockchain’s biggest backers, including people with ties to IBM and JPMorgan, will gather Wednesday to work on the biggest issue hobbling the technology behind digital currency -- the absence of grown-up governance. While growth of the internet was fostered by bodies such as the Internet Engineering Task Force, the Internet Governance Forum and the Internet Corporation of Assigned Names and Numbers, the blockchain technology that makes the bitcoin digital currency work lacks such support.

Credit Unions Seek to Become First to Market With Banking Blockchain

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The credit union industry is following the lead of hackers and thieves, according to Jeff Johnson, chief information officer at Illinois-based Baxter Credit Union (BCU). "This is going to sound strange," he said. "[But] criminals, no matter how much you hate them, are really smart people. They take the path of least resistance." In his mind, if it’s working for international payments on the black market, there has to be a way to leverage the technology for above-board use that is just as robust, anonymous and secure.


US Credit Unions Focus on CULedger Blockchain Initiative

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One could argue there is no direct need for more blockchain consortia, although that would not be entirely true. The technology can be applied to any industry or business type in the world today. However, every sector has their needs and standards to adhere to. This affects the development of blockchain-based solutions for individual companies. Credit unions are a bit of an unusual creature in this regard.

BIG plays big role in ‘game changing’ CULedger program

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Many of us have already heard about the game-changing CULedger program – a collective effort to build a private, distributed ledger network (similar to Blockchain), dedicated to the unique needs of credit unions. Credit union technology think tank Best Innovation Group (BIG) is leading this consortium on the tech side, which consists of CUNA, Mountain West Credit Union Association, and a growing list of credit union industry partners. BIG will research, develop, and pilot potentially useful applications for members such as trusted and portable identity in which credit unions can drive and become a leader.

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