Tuesday, November 20, 2018


Can Blockchain Fix Banking?

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A pair of ex-Google employees believe their version of Blockchain can fix banking. That fix is long overdue, since banking is suffering a real crisis at this time.

Indeed you may be surprised to learn that banking is one of the last parts of the global economy largely untouched by modern technology. Sure, banks aretalking about nifty customer facing technology like iris scans. Some even want to let us use our smart phone sensors to log into automated teller machines. While cool, these efforts are really just lipstick on a pig. The problem is bank infrastructure. That infrastructure consists of decades-old hardware and software that is patched together like Frankenstein meets The Mummy. And it’s broken, badly.

CUNA blockchain webinar attracts audience of 350

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In a Thursday webinar, CUNA Chief Operating Officer/Chief of Staff Rich Meade invited credit unions to participate in the CULedger Open Source Project, a system-wide initiative exploring the potential of blockchain technology.

Beyond The Hype: What Blockchain Really Brings To Payments

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Such technology removes intermediaries, simplifies counterparty connections and records data in a tamper-proof manner. It also promises faster speed, more transparency and efficiency for payments.

Bitcoin, despite some flaws, demonstrates these possibilities and has attracted a surge of investment. Ripple Labs, a blockchain startup, holds a seat on the Federal Reserve Faster Payments Task Force.

IBM Launches Blockchain Cloud Services On Linux Server

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IBM has introduced a cloud-based blockchain service for business-to-business networks that allows companies to test performance, interoperability and privacy of blockchain ecosystems. The company noted in a press release that the service is suited to organizations in regulated industries.

IBM’s blockchain cloud is supported by IBM LinuxOne, which IBM considers the industry’s most secure Linux-only server. LinuxONE addresses the security requirements of the healthcare, government and financial sectors.

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