The OneAZ program, designed to provide free support for the transition of Arizona financial institutions to the blockchain, will be implemented in collaboration with Metal Blockchain from San Francisco. Program participants will be able to apply for access to fintech partnerships, as well as grants for blockchain development and research.
"There is great hope that blockchain will change the industry by increasing the level of efficiency, security and transparency. The decision of the credit union is aimed at improving the banking experience of its members and simultaneously expanding customer access to financial services. The banking innovation program will help us identify possible uses for this technology," OneAZ said.
OneAZ noted that the introduction of blockchain into everyday banking operations will allow members of the credit union to achieve an increased level of confidentiality, smoother and faster transactions, simplified loan approval and opening of bank accounts.
Earlier, the co-head of the digital assets department of the Canadian branch of the international audit and consulting corporation KPMG said that blockchain technologies can change the market for expensive commercial real estate, expand the list of investors and protect their interests.