Blockchain's suitability as a business tool is certainly something credit unions must decide. But the recent article "
As King suggests in this piece, the more entrants there are, the more disruptive blockchain will be in the marketplace. This is precisely why it's so important that credit unions have a role in its development, whether it be through Hyperledger, CULedger or any other consortia (which NAFCU continues to evaluate) that are focused on building technologies that could shape the future of our business.
As murky as this subject may seem now, the numerous industries and companies studying and investing in blockchain technologies understand that collaboration is essential for developing viable use cases. NAFCU's goal is to ensure that credit unions don't miss out on these opportunities, which may yield solutions for achieving improved efficiencies, speed and safety in operations and member transactions. We want to facilitate the journey. Credit unions have always put the consumer first, and we expect that sensibility will inform credit unions' decisions regarding blockchain.