A large U.S. company western union that conducts remittance and trade business for individuals and corporations has described somewhat critical thinking about adopting cryptocurrency in its service.
Mr. Odilon Almeida, the company’s international remittance service representative, says that it is necessary to consider ” cryptocurrency ” and ” block chain technology ” separately in order to understand the benefits of cryptographic assets.
Almeida says block chain technology itself has practicality in the financial services world as a database that efficiently records transaction contents . Western Union, which shows a positive attitude towards the application of this technology, has been testing the product of Ripple (Ripple) since February this year.
At one point Ripple’s product is “Western Union, which says” remittance costs can not be reduced “, but testing is still continuing. Mr. Almeida has an interest in block chain technology, while it shows a critical attitude about handling cryptocurrency.
For Western Union already offering digital remittance services of more than 130 legal currencies, cryptocurrency is said to have problems with three points of ” governance, compliance, volatility “.
Mr. Almeida says, “cryptocurrency may be a way to exchange assets at the individual or national level, and we are ready to launch it when that time comes (cryptocurrency remittance service).”
Article Source: Western Union (English)
Author: Yuya 【Coin Desk News】 – Source Post: https://crypto-times.jp/western-union-counter-argument-for-cryptocurrencies/
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