Editors Note: Money transfer service Western Union just shared the above video titled "Blockchain and Cryptocurrency" featuring the company President Odilon Almeida, as well as a press release praising cryptocurrency and blockchain technology. Which includes bold language stating what they feel their involvement in the space would bring, saying in part:
"Cryptocurrencies have so far failed to achieve broad acceptance because they have yet to master three things: governance, compliance and volatility.
But Western Union is already better equipped to solve for such variables because it already moves money across 130 currencies and devotes substantial resources to all of those three challenges."
In the video Almeida talks about the possibility of introducing cryptocurrency to their platform and emphasizes how easy it would be for them to implement into their current business model which already supports dozens of traditional fiat currencies. Adding 'I think cryptocurrency may become one more option'.
"Cryptocurrencies have so far failed to achieve broad acceptance because they have yet to master three things: governance, compliance and volatility.
But Western Union is already better equipped to solve for such variables because it already moves money across 130 currencies and devotes substantial resources to all of those three challenges."
In the video Almeida talks about the possibility of introducing cryptocurrency to their platform and emphasizes how easy it would be for them to implement into their current business model which already supports dozens of traditional fiat currencies. Adding 'I think cryptocurrency may become one more option'.
They are currently testing payments via blockchain using Ripplenet - which was created by Ripple but can transfer any currency, including Bitcoin or Ethereum.
Western Union money transfer services are currently offered at over 500,000+ locations world wide.
Western Union money transfer services are currently offered at over 500,000+ locations world wide.
