Topic: [2014-06-25] Bloomberg: Western Union CEO: We’ll Use Bitcoin When Regulated (Read 1965 times)
June 26, 2014, 05:19:48 AM
June 26, 2014, 03:10:23 AM
he mixed up something there
June 25, 2014, 11:15:37 PM
I am not sure how it would fit into their business model. It is more likely to destroy it than anything.
I challenge you to use your imagination. They don't have to let customers know that they are using BTC in their system. The entire customer experience from beginning to end doesn't need to change at all, not a single letter or number on any of their documents, rules, or contracts needs to change in order for them to fully integrate BTC into their systems and pass massive savings and speed improvements onto the consumers.
Bitcoin is not really a currency. It is a protocol.
All they need to do is attach small text messages to single Satoshi units and send them back and forth between their servers. The message on each Satoshi would read something like "Transfer $500 to Location AB1786584 Confimation Code 3486596". Right now, Western Union is using ancient credit card payment technology that requires many intermediary services for their encrypted messages to reach around the world. With bitcoin, they could send everything directly from start to end location with nothing in between. They never even need to say "we are using bitcoin to do this US dollar transaction for you", they just do it, just like they use parts of other encrypted data transfer services right now without telling you exactly which one they use and when they use it.
You can do anything with bitcoin in any way that you want. Will they start to offer actual bitcoin amount transfers soon? Yes, but it is far more likely that their first step in using bitcoin will come as a single satoshi transfer to make standard currency transfers extremely efficient, and if that seems to be working well, then they might start servicing bitcoin transfers directly.
That was easy.
Sure it was easy because its completely dumb
They can do all that with an internal protocol. Why would they need blockchain to "send a message"?
Do you even understand what public ledger means?
Do you really think they're transferring money thro creditcard network?
Think b4 wasting internet bandwidth pls.
Bitcoin doesnt need transferring service period. Thats the problem with fiat money.
Transferring money (fiat) thro bitcoin network is basically utilizing btc exchanges.
June 25, 2014, 11:02:57 PM
I am not sure how it would fit into their business model. It is more likely to destroy it than anything.
I challenge you to use your imagination. They don't have to let customers know that they are using BTC in their system. The entire customer experience from beginning to end doesn't need to change at all, not a single letter or number on any of their documents, rules, or contracts needs to change in order for them to fully integrate BTC into their systems and pass massive savings and speed improvements onto the consumers.
Bitcoin is not really a currency. It is a protocol.
All they need to do is attach small text messages to single Satoshi units and send them back and forth between their servers. The message on each Satoshi would read something like "Transfer $500 to Location AB1786584 Confimation Code 3486596". Right now, Western Union is using ancient credit card payment technology that requires many intermediary services for their encrypted messages to reach around the world. With bitcoin, they could send everything directly from start to end location with nothing in between. They never even need to say "we are using bitcoin to do this US dollar transaction for you", they just do it, just like they use parts of other encrypted data transfer services right now without telling you exactly which one they use and when they use it.
You can do anything with bitcoin in any way that you want. Will they start to offer actual bitcoin amount transfers soon? Yes, but it is far more likely that their first step in using bitcoin will come as a single satoshi transfer to make standard currency transfers extremely efficient, and if that seems to be working well, then they might start servicing bitcoin transfers directly.
That was easy.
June 25, 2014, 04:08:15 PM
I am not sure how it would fit into their business model. It is more likely to destroy it than anything.
June 25, 2014, 04:02:48 PM
Western Union CEO: We’ll Use Bitcoin When Regulated
http://www.bloomberg.com/video/western-union-ceo-we-ll-use-bitcoin-when-regulated-SulUCvcZQEixMGv9Mu~akw.html
bitcoin will regulate western union
http://www.bloomberg.com/video/western-union-ceo-we-ll-use-bitcoin-when-regulated-SulUCvcZQEixMGv9Mu~akw.html
bitcoin will regulate western union
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