2017 might be remembered as the year cryptocurrency went mainstream. The price of Bitcoin fluctuated wildly from over $17,000 down to below $10,000, several financial institutions and tech giants announced new blockchain initiatives, and interest in initial coin offerings (ICOs) grew exponentially while some governments banned them altogether
While cryptocurrency began with Bitcoin over 10 years ago, it has now taken many different incarnations, spawning countless other competing currencies and an ecosystem of products and companies built on its underlying technology, blockchain. Most experts agree that regardless of the future of Bitcoin, blockchain will have a lasting impact on almost every industry, not least of which the payments and banking industries.
We spoke to our Director of Product Management and resident cryptocurrency expert Jeff Falkabout what the rise of cryptocurrency could mean for credit unions.
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