Increased efficiency, security, and speed. These are the primary benefits credit unions could realize by developing a network based on blockchain. Rich Meade, CUNA chief operating officer, presented the possibilities for credit unions at America’s Credit Union Conference Wednesday.
Credit unions are the original financial services disrupters. And they are the original cooperative cooperators. Those two essential traits of their DNA make them the perfect business model to shake up financial services again by moving squarely into the innovative blockchain or "shared ledger" model of transactions.
To keep credit unions on pace with today's dynamic payments arena, the CUNA Payments Roundtable will address an entirely new set of credit union-specific payments topics in 2015, CUNA announced Monday.
The ATM Industry Association does not view bitcoin as a threat to cash or electronic payment methods, but seeks to include the unregulated digital currency within its governance framework, the organization said in a position paper released this week.