PSCU evaluating blockchain-based verification

The Green Sheet: Feb. 24, 2020

PSCU, a leading credit union payments provider based in St. Petersburg, Fla., will soon be adding digital identification to its list of member benefits. The company disclosed Feb. 24, 2020, that it is working with Baxter Credit Union to evaluate MemberPass, a blockchain-based verification method by CULedger designed to simplify logins while protecting member privacy.

Scott Young, vice president, innovation at PSCU thanked CULedger for the pioneering use of distributed ledger technology for identity management. "Just as we are doing with MemberPass, we plan to continue applying knowledge gained from proof of concepts with CULedger to future opportunities and strategies on behalf of our Owner credit unions," he said.

John Ainsworth, president and CEO of CULedger, also expressed support of the project, stating, "We are excited to partner with PSCU and BCU to improve the safety of members' information and regulate the process by which they verify their identity. With each successful proof of concept and integration, members are that much closer to being in complete control of their identity and changing the way the world conducts financial transactions." [Read the article in The Green Sheet]