Executive Summary
Blockchain is a paradigm shift in data systems, which has the potential to be the next transformative platform for businesses and individuals. What’s next in the way we store and access data? Blockchain could be the next step in the evolution of the digital economy. In this primer, you’ll learn about how blockchain is a distributed and decentralized platform and why that is the ideal type of platform for sharing data. We will also dive into specific use cases in the credit union industry. Our goal for this primer is to give you enough of a foundation to actively explore your own ideas for blockchain applications.
Credit Union Implications
The good news is that the credit union industry is already experimenting with blockchain solutions. Although adoption is not yet widespread, some credit unions are taking a proactive stance on working with this technology. Like all technologies, there are benefits to the user but also challenges to overcome. Blockchain offers the most value when you have multiple parties collaborating on a shared set of information. When considering applications in the credit union industry, there is a clear opportunity for use cases involving multiple credit unions.
Download the full primer to learn more about Blockchain and discover various use cases in how credit unions are actively exploring the use of this technology.
Filene’s Center for The Credit Union of the Future is generously funded by:
