CO-OP Financial Services and TMG said on May 2 that they commissioned a study on blockchain to help credit unions create a framework for evaluating this emerging digital technology.
The blockchain concept, which was first developed by Bitcoin, refers to a public ledger of all executed transactions that run without a financial institution or another entity as its primary authority.
Specifically, a blockchain is a distributed database that maintains a continuously growing list of transaction records hardened against tampering and revision. It includes two types of records, transactions and blocks – transactions include the actual data stored in the blockchain, and blocks confirm exactly when and in what sequence transactions have occurred.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
- Educational webcasts, white papers, and ebooks from industry thought leaders.
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.