When Lamont Black talks to credit union audiences about cryptocurrency, he asks them to first frame the conversation around technology rather than the risk and volatility associated with the trading of digital assets.
In this episode of the CUNA News Podcast, Black, a DePaul University professor and cryptocurrency expert, offers a deep dive into the cryptocurrency world and the technology behind it.
He provides the history behind cryptocurrency’s rise, its current state, and advice on how credit unions can introduce members to the sometimes confusing world of crypto.
Black also describes the potential of blockchain, the technology that supports cryptocurrency. As he explains, blockchain may be a key driver in the digital world of the future.
In this episode:
1:33: Lamont’s background
2:21: Cryptocurrency’s staying power
3:42: The Bitcoin whitepaper
5:11: Where crypto fits in the payments space
8:44: Why should credit unions care about crypto?
10:44: Questions credit unions have about crypto
13:05: Why a credit union should offer cryptocurrency services
16:55: The story behind this summer’s “crypto correction”
21:45: Where crypto fits with crypto and credit unions
24:00: Black’s MAP for crypto currency; other potential blockchain applications