CU Ledger, a proof-of-concept project based on distributed ledger technology and led by CUNA and the Mountain West Credit Union Association, was designed to prepare credit unions for the future.
"This could be a real game changer," Rich Meade, chief of staff/COO for CUNA, said. "This technology could be the next email, the next internet, the next big thing, so we're really excited about doing that."
The CU Ledger project aims to create a permissioned, distributed, shared ledger platform for credit unions. A distributed ledger is a digital record of ownership that does not include a central administrator or central location for stored data. Asset owners use cryptographic signatures.
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Roy Urrico
Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).
