All this excitement about Prosper and other forms of P2P lending sometimes lets us forget that there has been a framework of semi-centralized P2P banking in place for many years - credit unions.

Some folks from the Burning Man community are now rediscovering these community-owned financial institutions and plan to open their own, which will be called the Black Rock Federal Credit Union.

Jesse Robbins recently got to present a short lightning talk about these effords at Ignite Seattle. Here's the video:



Now, there's a few things that have to be said about this video. In Jesse's own words:

"1. I was, in fact, drunk when I wrote and presented this talk. I feel the need to state for the record that this event was held in a bar which didnít have food and Iím I lightweight because I donít drink that often. SoÖ moving onÖ
2. I was wrong about Credit Union capitalization."


It's nevertheless a very spirited talk entertaining. And it's good to see that people start incorporating open source software and web-based social communities into the credit union movement.

Ignite Seattle was / is an unconference organized by some of the folks from O'Reilly. Every talk is just five minutes long, so it's easy to catch up afterwards. Curious? Then just grab the torrent with videos of all the pesentations.

(via O'Reilly Radar)