Darrell O’Donnell

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Trusting Blockchain Technology

Posted by Darrell O’Donnell on Jun 28, 2019 8:47:09 AM

When executives in the financial services industry enter into a discussion about blockchain technology the first question generally asked is: “Why should I use blockchain technology?” This question is quickly followed by, “Why should I trust blockchain technology?”

Executives and businesses succeed when they ask better questions.

Perhaps, the better question is “What can the industry use this technology for, now that blockchain is becoming a ‘common’ technology?”. Currently the most effective use of blockchain relates to areas where a group needs to be able to trust something – but can’t agree on a centralized place they can all trust.

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Top Three Questions Credit Unions CTOs Need Answered About Blockchain

Posted by Darrell O’Donnell on Jun 20, 2019 12:54:21 PM

In general, the credit union industry has an interesting relationship with blockchain. A year ago, industry leaders in distributed ledger technology were answering “is this bitcoin?” questions. Now, there is a much broader general understanding of blockchain technology. In particular, certain innovative chief technology officers (CTOs) and CIOs who do “get it” no longer mention “blockchain” early in our discussions. Rather, and more interestingly, they are talking about a digital banking strategy that may include blockchain technology. At this point, a CTO looking for blockchain technology is like a hammer looking for a nail.

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Topics: Blockchain

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