Executive Summary
Blockchain excels when multiple parties share information. As a decentralized, peer-to-peer network that does not rely on a single, centralized authority to run the network, blockchain has the potential to change the way credit unions think about secondary markets.
This report delves into FiLab’s exploration and testing of LoanNFT, which aims to put loans on the blockchain to create a disintermediated alternative to traditional secondary loan markets. The report addresses the following questions:
- How can we use blockchain to improve the efficiency of the secondary loan market?
- How can we securely share loan data between parties on the blockchain?
- What are the potential short-term and long-term benefits to credit unions of a decentralized, peer-to-peer secondary loan market?
Credit Union Implications
The findings indicate that the technology behind the LoanNFT is sound. Download the full report to discover how the LoanNFT prototype was developed and its potential as an innovative alternative to traditional secondary loan markets.
Filene’s Center for The Credit Union of the Future is generously funded by:
