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As digital interactions become more commonplace, credit unions search for a solution involving digital identification. Unlike identifying members in physical settings, digital identification remains challenging because of a lack of standardization across various digital channels. Members and credit unions alike are increasingly concerned by the fact that digital identity theft is growing. Sadly, digital data breaches are on the rise across multiple industries and have exposed the most sensitive consumer data to hackers.

St. Petersburg, Fla. — (April 24, 2018)  PSCU – the nation’s leading CUSO – has announced its investment in CULedger, a credit union industry initiative for developing applications of distributed ledger technology. This technology, which offers a protocol that allows innovation around financial transactions, may become the system on which the future of financial processes is built.

NEWPORT BEACH, CA (March 29, 2018) — NACUSO, the only trade association for the Credit Union Service Organization (CUSO) movement announced the five finalists for the 2018 Next Big Idea Competition to be held at the NACUSO Network Conference in Anaheim on April 18th at the Disneyland Hotel.

A group of U.S. credit unions looking to pool resources considered the Bitcoin and Ethereum blockchains to track their business, but wound up selecting something else entirely: hashgraph.

Hashgraph, like Bitcoin blockchain, is a distributed ledger, a decentralized online record of transactions that can be accessed by multiple parties. Once it launches a public ledger version, promoters say, hashgraph should be a faster, cheaper alternative to the blockchain, but the very features that can make the older system slower and costlier are also the ones that attracted investors in the first place.