29 Jan '17, 1pm

Why Doesn't Western Union or Moneygram Use Bitcoin? - CoinTelegraph

This essay is an updated chapter from Luis Buenaventura’s Reinventing Remittances with Bitcoin , available for free in e-book and print form now. One of the most common questions asked at industry conferences is why Western Union or Moneygram don’t just use Bitcoin themselves. If they did, they could eliminate the potential threat posed by the young Bitcoin remittance start-ups who are out there trying to eat their lunch. Theoretically, Western Union could just throw R&D resources at the problem and come up with a large-scale version of what companies like Bitspark in Hong Kong, Payphil in South Korea, or BitPesa in Kenya have been working on for the last three years. The short answer is that Western Union doesn’t need Bitcoin in its current infantile state. Conversely, if and when Bitcoin reaches adulthood the world would no longer need Western Union. Prehistoric animals ...

Full article: https://cointelegraph.com/news/why-doesnt-western-union-o...

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