Bitcoin Forum

This might lower their fees and be more instant. This is a good use for crypto.

https://www.ccn.com/western-union-patent-eyes-cryptocurrency-for-secure-transfer-system

It looks a FOMO news but is there an official announcement regarding it? As far as i know, the western union has been blaming crypto in so many times. I will try to read more about that but i guess they will be interested only to use the blockchain system because that's the point.

News seems pretty legit. Don't know what they're gonna do with it

Thank you very much for the news. If this happen it will be very good for the crypto users. It seems very interesting. I hope something good will happen if it is implemented.

Companies file patents all the time doesn't mean they're going to do anything with it. Check out all the patents that Nintendo register each year

This is a good news indeed for the people on the crypto currency market. This company has been operating in the market and has a good reputation in the market. No scams have been associated with them and no bad news have spread no far when it comes to dealing with money by them.

Great to here. I hope that money transferring will be developed more from this adoption. In the system, people may pay in crypto and another party may receive in fiat or crypto. However, the blockchain technology will help in the system a lot to make this process successful.

Great news indeed and I am looking forward to it. Hope to see some good news as a result of this. This will be great if it can lower the fees.

I believe these types of news influence others to connect with this market. Some peoples are afraid to invest on this market because of government restriction. I believe in near future this market will a great place for invest. Then government will also accept this market.

That would be a wonderful game changer for crypto; it would build more trust to take crypto mainstream; I hope they pull it off

Great news! If this is really true then we will be expecting a bullish crypto market anytime soon. There are lots of transactions that are made everyday with Western Union and we all know how big this company is. Hoping that we will see some great effect on the news. Let's all spread the word out about this adoption of Western Union to blockchain.

they saw how they are losing the market to a real currency (bitcoin) which people have been eyeing for sometime now and they are now afraid that they can lose considerable amount of revenue to bitcoin as more people start using it. so they want to use the crypto hype to their own advantage and save their business.

NOW this is the kinda of news we ALL want to hear.

Not surprised at all. They are a financial service so it is only normal that they are getting into anything that has to do with the transaction of money. If a company like western union that is used all across the world, confirms their involvement in cryptos that would mean that a lot more people around the world will start to trust crypto more. This is good news.

From what I understand they could use a blockchain, a Bitcoin like network to transfer some information securely.
They will not convert the fiat into Bitcoin and back or such, they very likely will not interact with Bitcoin at all.
However, Blockchain leads the innovation nowadays, whether the patent will be actually used or not.

If this is true then a good financial services and communications company will join the cryptocurrency and it will surely put more investors to the market. I just wish that what they are doing would not be centralized but we can rest assured that if they get into the crypto industry their platform will be must more regulated and with good financial offerings.

I also agree with you because this will be a very interesting development for crypto and shows that it is growing and will become globally accepted soon. but I think the western union are more interested in the blockchain.

Western union realized they are on verge of extinction and this is the only way for them to survive. If they still tried to rob people for their service, people would have a lot of other services to choose from. By the time western union adapts it, there would already be a number of large crypto companies in the field.

Good news. Now many companies are very interested in blockchain technology and the Western Union is no exception. Let's see what happens.

if they do it, then this is very interesting and maybe other financial companies can do the same thing done by western union. so the competition will be more exciting and the market will be more challenging to find a winner.

Let see on what will happen and what they have to do with it, for sure    it will more interesting not just for blockchain only it also in crypto.

Western union is an excellent business that suits crypto and blockchain tech and their conversion will immensely mean an upgrade towards the next advanced tech, im sure more businesses will follow, these news also indicate the mass adoption towards crypto that is coming slowly but surely.

Why not?

They're on a business of money matters, money transfer worldwide so there's a huge possibility that they may adopt the trending technology which is the Blockchain Technology. If this news is legitimate well, it's exciting and hopefully they will have bounty programs for us to participate to help spread the project to the world.

Well, its good to have a large corporation trying to adapt to changing times

A very good news for the crypto community. Fromm now on The Western Union will be involved in trading crypto currency.

For Western Union to recently incorporate cryptocurrency protocol into their payment service is a welcome development for the company in particular and the cryptocurrency community in general. Thanks for this amazing information.

Personally I think, all well-known and widely-used banking systems, exchanges and other institutions which work with money, need to be changed in order not to be old-fashioned.
Cryptocurrency transforms a lot. So Western Unions needs to be developed too.

This is undoubtedly a breakthrough in the history of the development of blockchain technology! Such news contributes to the growth of confidence in crypto-currencies and, accordingly, to new investments! I'm very happy, Western Union is a solid company that will add several billion dollars to the capitalization of the crypto currency market!

This is something positive to the crypto market, western union is quite a big company for overseas money transfer. Hope that because of this new player some of their clients get to know crypto and be a crypto user.

Yes. I think that it is a good news.Good security is always neccessary for good transaction and if western union increase crypto's security than it is definetly good news for all users of crypto.

Western Union started could see lucrative opportunities in crypto and the technology that exists therein. certainly, they do not want to lose this chance and opportunity for them. even if not mistaken Western Union also has partnered with ripple and naturally it also became a great step that they take in the future.

Well this is expected because there should be a majority of customers who are requesting to use bitcoins and other crypto coin. This platform will be beneficial for both the customers and the company.  Ofcourse western union is recognized around the world and they are just making our transaction and payments more convient to use by all.

I think that's a good idea. They don't need to use Bitcoin or any other altcoins, all they is the Blockchain itself. They just have to input that into their system and that's it.

But of course, I am not a programmer nor a business man, just a typical bounty hunter. I don't know if it is an easy thing or not. Hope they (Western Union) really accept blockchain in their system, anyway.

They are about to join the blockchain security.
transfer of many using internet needs to be more secure and they find blockchain as one of the best to go with.
we should expect more to come.

I thought they were already testing using Ripple to facilitate money transfers? Maybe they have decided that it wasn't giving them any siginficant cost saving benefits, as the speed of the transfer with Western Union is already pretty quick, unlike the Banking SWIFT system.

I know many banks and financial institutions will use the Blockchain tech for better service. But I doubt that it's gonna be an open source system.

It is great to see more and more companies embrace cryptocurrencies. I am cautiously optimistic about the recent stream of good news(Microsoft, Western Union etc embracing the blockchain tech and crypto) which could help reverse the current bear market and set the foundation for the next big bull run. As the popularity of Bitcoin and cryptocurrencies continues to rise, more and more people will invest into this market which is why I am excited about the future.

This is really great news for the market of crypto currency as well as for the investors also. With the continuous development of this market, many companies and institutions are coming to this market. Western Union is the leading money transferring institution and their presence in the market will make the crypto more popular.

Soon more and more companies like western union will be turning to blockhain technologies and this is great because blockchain and crypto are become usual for more people

A very good news for the crypto community. Fromm now on The Western Union will be involved in trading crypto currency.

This really good news for crypto users and Western Union clients as well. I just hope that the transaction fees is much lower than the regular fees.

woooooooooooooooow this will be massive .this is really a good news  i guess with this prizes will go up when it is  implemented.

Please have a look at Crypterium. It allows to spend all crypto currency through qr code, nfc terminal, IBAN transfer etc with your mobile phone. The merchants dont have to chance their pos machine. Its revelation. Ex-Visa CEO has joined the CRPT team recently. 

I think i read somewhere one time that they were working with ripple to develop a safe and secure transfer system with cryptos but that might have burned out. I knew that they wouldn't stop though, they realize that cryptos are the future and they want to get ahead of the game before they get left behind and I do not blame them for it.

That's what I've heard of too but we have to wait for their final announcement on what crypto will they use for their service. It's also interesting that they are only adopting and use the technology.

Could've been CNN for more legitimacy.  ;D But it was CCN.

Let us say that happens.
Why?
They are losing customers because of the crypto currency thing.
Why?
They are too greedy with their transsction fees.
Paying $6 for just a $400 transaction. What the hell! Before people think they are the best but eyes are opened now and their customers are looking for another option.

They might really look into the blockchain technology.

This is a very convenient money transfer service. I used to transfer money to my relatives, but they are now involved in crypto, which shows that the crypto market is getting closer and closer more users

As long as there would be no news posted in their website then i would no longer believe such news posted in any social media sites or any news agency, a lot of fake news scattering everywhere, trying to believe the people. Anyway, i would be happy to review and ask on their site regarding this news agency if this legit or not. Lets be more careful and be selective. Lets spread the facts.

if they will stop the blame and join it will be a great idea because sending money via banks is somehow outdated.

Great news! Increasingly, there are attempts to legalize cryptocurrencies.
So Western Union did not stay away. And this is a world name. WU is known and used all over the world.
The more such news, the more people will learn about cryptocurrencies.