The NAFCU Journal January - February 2018 - 19

BLOCKCHAIN
STEPPING INTO
NAFCU's membership in Hyperledger ensures
credit unions a role in global tech project
By Susan M. Broaddus

S

eeking to ensure credit unions
a role in shaping tomorrow's
marketplace, NAFCU last fall
became the first U.S. financial
industry trade association to join
Hyperledger, an open-source, global
collaboration effort to advance crossindustry blockchain technologies
hosted by The Linux Foundation.
Blockchain, a type of distributed-ledger
technology originally deployed to
support Bitcoin, is under study by more
than three dozen consortia worldwide,
26 of them in the financial services
space, according to Deloitte. Their
goal is to discover ways that entities
and institutions can use blockchain
to achieve efficiencies and reduce
compliance costs related to a range of
transactions. For the financial industry,
the possibilities include blockchains
for cross-border payments, loan
settlement, collateral management,

THE FUTURE

escrow services and, among other
things, real-time payments.

members are innovating to meet the
industry's needs."

NAFCU President and CEO Dan
Berger, announcing the partnership
in October, said the association's goal
in joining Hyperledger was to ensure
credit unions a seat at the table as
blockchain's potential and use cases
are developed.

"Hyperledger has experienced tremendous growth and development over the
past two years, and we are excited to welcome NAFCU as our first financial trade
association member," said Hyperledger
Executive Director Brian Behlendorf.
"We look forward to NAFCU contributing to our vibrant, active Hyperledger
community and providing valuable
insight to the credit union industry and
how our technology can improve the way
financial institutions communicate with
one another."

NAFCU's membership in Hyperledger
will "bring together a critical sector of
the U.S.'s financial services industry
with the world's leading technology
firms, all working together in an
open-source collaborative effort to
advance cross-industry blockchain
technologies," Berger said. "We
believe in opportunities that harness
the power of technology and open
exchange to prepare for the future.
Hyperledger will serve as an invaluable
partner during a time when NAFCU's

THE NAFCU JOURNAL  JANUARY-FEBRUARY 2018

NAFCU, through its membership in
Hyperledger, will provide the global
project direct access to information
about credit unions that can help
broaden the development of blockchain
and maximize its usefulness to the
financial industry.
19



Table of Contents for the Digital Edition of The NAFCU Journal January - February 2018

Conferences
From the Chair
Advocacy Snapshot
Washington and Industry Briefs
Growth Strategies
Stepping Into the Future
A Clear Path Forward
Economic Outlook: It’s Complicated
NAFCU 2018 Vendor Directory
Executive Spotlight
Management Insight
Compliance Central
Inside NAFCU Services
From the President’s Desk
The NAFCU Journal January - February 2018 - Cover1
The NAFCU Journal January - February 2018 - Cover2
The NAFCU Journal January - February 2018 - 1
The NAFCU Journal January - February 2018 - 2
The NAFCU Journal January - February 2018 - Conferences
The NAFCU Journal January - February 2018 - From the Chair
The NAFCU Journal January - February 2018 - 5
The NAFCU Journal January - February 2018 - Advocacy Snapshot
The NAFCU Journal January - February 2018 - 7
The NAFCU Journal January - February 2018 - Washington and Industry Briefs
The NAFCU Journal January - February 2018 - 9
The NAFCU Journal January - February 2018 - 10
The NAFCU Journal January - February 2018 - 11
The NAFCU Journal January - February 2018 - 12
The NAFCU Journal January - February 2018 - 13
The NAFCU Journal January - February 2018 - 14
The NAFCU Journal January - February 2018 - 15
The NAFCU Journal January - February 2018 - Growth Strategies
The NAFCU Journal January - February 2018 - 17
The NAFCU Journal January - February 2018 - Stepping Into the Future
The NAFCU Journal January - February 2018 - 19
The NAFCU Journal January - February 2018 - 20
The NAFCU Journal January - February 2018 - 21
The NAFCU Journal January - February 2018 - A Clear Path Forward
The NAFCU Journal January - February 2018 - 23
The NAFCU Journal January - February 2018 - 24
The NAFCU Journal January - February 2018 - 25
The NAFCU Journal January - February 2018 - Economic Outlook: It’s Complicated
The NAFCU Journal January - February 2018 - 27
The NAFCU Journal January - February 2018 - 28
The NAFCU Journal January - February 2018 - 29
The NAFCU Journal January - February 2018 - 30
The NAFCU Journal January - February 2018 - 31
The NAFCU Journal January - February 2018 - 32
The NAFCU Journal January - February 2018 - 33
The NAFCU Journal January - February 2018 - 34
The NAFCU Journal January - February 2018 - NAFCU 2018 Vendor Directory
The NAFCU Journal January - February 2018 - 36
The NAFCU Journal January - February 2018 - 37
The NAFCU Journal January - February 2018 - 38
The NAFCU Journal January - February 2018 - 39
The NAFCU Journal January - February 2018 - 40
The NAFCU Journal January - February 2018 - 41
The NAFCU Journal January - February 2018 - 42
The NAFCU Journal January - February 2018 - 43
The NAFCU Journal January - February 2018 - 44
The NAFCU Journal January - February 2018 - 45
The NAFCU Journal January - February 2018 - 46
The NAFCU Journal January - February 2018 - 47
The NAFCU Journal January - February 2018 - 48
The NAFCU Journal January - February 2018 - 49
The NAFCU Journal January - February 2018 - 50
The NAFCU Journal January - February 2018 - 51
The NAFCU Journal January - February 2018 - Executive Spotlight
The NAFCU Journal January - February 2018 - 53
The NAFCU Journal January - February 2018 - Management Insight
The NAFCU Journal January - February 2018 - 55
The NAFCU Journal January - February 2018 - Compliance Central
The NAFCU Journal January - February 2018 - 57
The NAFCU Journal January - February 2018 - Inside NAFCU Services
The NAFCU Journal January - February 2018 - 59
The NAFCU Journal January - February 2018 - From the President’s Desk
The NAFCU Journal January - February 2018 - Cover3
The NAFCU Journal January - February 2018 - Cover4
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