At one time, there were over 9,000 Blockbuster Video stores. Today, just one remains. It happens to be in my home state of Oregon, just a few hours away.
If you were born in the 2000s, you might not remember the days when we had to physically transport ourselves to a video rental store if we wanted to watch a movie at home, nor is the name Blockbuster Video likely to mean much to you. But the rest of us associate the name with both astounding success and spectacular failure. Blockbuster was a Fortune 500 company in 2007 and declared bankruptcy in 2010.
So what does all this have to do with crypto and credit unions? Kyle Hauptman, Vice Chairman of the NCUA, joins us on The Remarkable Credit Union podcast to address this month's BIG Question:
How can credit unions be the Netflix, not the Blockbuster Video, of crypto, and what actions is the NCUA taking to encourage innovation in the space?
We talk about how regulators are encouraging innovation in cryptocurrency and blockchain, why credit unions have a head start over banks, and what three areas he would focus on if he were a credit union CEO.
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