[03-29-2015] Align Commerce: Using Bitcoin For International Currency Transfers

[waawd]

http://btcfeed.net/news/align-commerce-using-bitcoin-for-international-currency-transfers/

The novel ways in which Bitcoin’s blockchain can be utilized, are almost endless – smart contracts, data storage, decentralized social networks. A San Francisco-based payment solutions company, Align Commerce: will be utilizing the blockchain, as a transfer mechanism for international fiat currency transactions. Marwan Forzley, CEO and Co-founder of Align Commerce, has extensive experience in the digital financial services space.  Forzley, was CEO of eBillme, a payment processor facilitating online

[unamis76]

This seems to be quite the service It is an amazing idea and probably a really fast way to send funds... I'm hoping they start operating soon, it looks promising.

Also, it makes fiat depend on the blockchain, which will probably piss off some governments. A big plus

[PolarPoint]

This concept is not new. It is happening in Africa as we speak. There are potential problems with this concept. When the transfer amount is large, it is going to push up the price of bitcoin before the transfer. Each incremental bitcoin is more expensive than the previous. After the transfer to the destination exchange, dumping will crash the price. There may be significant exchange loses.