BankChain Alliance Seeks to Launch Bank-Owned Blockchain in U.S. by 2027

Thirty-nine U.S. state banking associations have formed an industry consortium called BankChain Alliance to build a bank-owned blockchain system. The target launch date for this network is 2027.

The alliance aims to provide community and regional banks with access to blockchain infrastructure without having to create their own networks. The participating associations represent thousands of banks across the U.S.

BankChain's interim chair, Kathy Kraninger, is president and CEO of the Florida Bankers Association and was previously director of the Consumer Financial Protection Bureau.