This week we consider two sides of the same Bitcoin. On the one hand, blockchain technology has the potential to offer a whole new means of building trust with members. Its innate transparency makes it uniquely secure. On the other hand, blockchain’s relationship to Bitcoin cryptocurrency – and the recent volatility in Bitcoin’s value – creates a sketchy association in many people’s minds. Can blockchain raise the industry’s trust quotient? Or are its positives and negatives a wash?
Of course, blockchain’s actual ability to impact security and consumer trust is still theoretical, as its use among credit unions is not yet widespread. So this week’s reads also include recent information on identity fraud and biometrics, and a look at whether consumers themselves are mucking up the system by providing fake data.
Blockchain Explained: It Builds Trust When You Need It Mostcontinue reading »