SEATTLE — CUNA, in partnership with the Mountain West CreditUnion Association, is looking for a few good credit unions — 125 tobe exact — to participate in the industry's first ever developmentof a blockchain technology platform.
During the final general session Wednesday at the national tradeassociation's America's Credit Union Conference at the WashingtonState Convention Center, CUNA's Chief Operating Officer Rich Meadeintroduced the CU Ledger Initiative, a proof-of-conceptproject.
The concept is to create a credit union system-wide permissioneddistributed shared ledger, more commonly referred to as blockchain technology platform, which has the potential tosubstantially improve the speed, efficiency and security of alltypes of financial transactions. The permissioned distributedshared ledger system would only include credit unions andCUSOs.
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