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Author Topic: [2016-09-04]Credit Unions Seek to Become First to Market With Banking Blockchain  (Read 124 times)
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September 04, 2016, 06:57:18 AM

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.

It's one of the reasons BCU has joined 55 other credit unions and four of the largest credit union service organizations (CUSOs) on the CU Ledger blockchain project, led by the Credit Union National Association (CUNA) and Mountain West Credit Union Association (MWCUA).

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