AXA Eyeing Bitcoin for Remittance Market

[ikydesu]

Multinational insurance and asset management company AXA is eyeing bitcoin to help streamline the remittance market, the general partner of its VC fund has told CoinDesk.

Minh Q Tran said AXA Strategic Ventures, the bank's $223m fund, and its accelerator, AXA Factory, are treating digital currency as an "investment thesis".

We think that many use cases related to bitcoin have not already been explored. In particular we are very interested in how bitcoin, and more generally cryptocurrencies, might be used in the remittance market.

http://www.coindesk.com/investment-bank-axa-eyeing-bitcoin-for-remittance-market/

[neoneros]

The interest of big players in bitcoin is something we should cheer about, but it also makes me feel a bit paranoid, though BTCitcoin is the perfect coin for Remittance, a company like AXA might have a hidden agenda, just like the banks who are hopping onto the BTCitcoin train to get something out of it. Just to once again f* us all over and push us back to the drawing board because we failed at the attempt to take over the world..

[NorrisK]

The interest of big players in bitcoin is something we should cheer about, but it also makes me feel a bit paranoid, though BTCitcoin is the perfect coin for Remittance, a company like AXA might have a hidden agenda, just like the banks who are hopping onto the BTCitcoin train to get something out of it. Just to once again f* us all over and push us back to the drawing board because we failed at the attempt to take over the world..

Because the goal of banks is to fuck us over? Their goal is to make money, a lot of it, and they often do it by fucking us over, but that does not make it their goal.

[Denker]

The interest of big players in bitcoin is something we should cheer about, but it also makes me feel a bit paranoid, though BTCitcoin is the perfect coin for Remittance, a company like AXA might have a hidden agenda, just like the banks who are hopping onto the BTCitcoin train to get something out of it. Just to once again f* us all over and push us back to the drawing board because we failed at the attempt to take over the world..

Let' be realistic and honest. At first all those big banks and companies will try to find a way to use blockchain tech without Bitcoin or the need as permissionless distributed ledgers like they call it. If they can not find a way they will use the Bitcoin Blockchain by creating their service on top of it but still with the aim to make as profit as much possible on their own and looking for ways to manipulate Bitcoin.

[LFC_Bitcoin]

The interest of big players in bitcoin is something we should cheer about, but it also makes me feel a bit paranoid, though BTCitcoin is the perfect coin for Remittance, a company like AXA might have a hidden agenda, just like the banks who are hopping onto the BTCitcoin train to get something out of it. Just to once again f* us all over and push us back to the drawing board because we failed at the attempt to take over the world..

Let' be realistic and honest. At first all those big banks and companies will try to find a way to use blockchain tech without Bitcoin or the need as permissionless distributed ledgers like they call it. If they can not find a way they will use the Bitcoin Blockchain by creating their service on top of it but still with the aim to make as profit as much possible on their own and looking for ways to manipulate Bitcoin.

One thing is for certain if major banks ever do use the bitcoin blockchain it won't be with the type of low fees we have now. Our goal is to replace banks or be an alternative to them not work with them.

Banks & bankers, CEO's etc look after one thing - themselves.

[aso118]

The interest of big players in bitcoin is something we should cheer about, but it also makes me feel a bit paranoid, though BTCitcoin is the perfect coin for Remittance, a company like AXA might have a hidden agenda, just like the banks who are hopping onto the BTCitcoin train to get something out of it. Just to once again f* us all over and push us back to the drawing board because we failed at the attempt to take over the world..

It really matters. I believe in the free market. Competition would result in the best solution getting adopted.
If Bitcoin makes remittance cheaper, I don't care if it is AXA (or any other company) which adopts it.
Western Union and others will have to adapt or fade away.

[Mickeyb]

Multinational insurance and asset management company AXA is eyeing bitcoin to help streamline the remittance market, the general partner of its VC fund has told CoinDesk.

Minh Q Tran said AXA Strategic Ventures, the bank's $223m fund, and its accelerator, AXA Factory, are treating digital currency as an "investment thesis".

We think that many use cases related to bitcoin have not already been explored. In particular we are very interested in how bitcoin, and more generally cryptocurrencies, might be used in the remittance market.

http://www.coindesk.com/investment-bank-axa-eyeing-bitcoin-for-remittance-market/

$175 billion is being held yearly on the fees by sending remittances all around the world. This is a staggering number. So companies like Western Union are taking all this money from the poor workers that are sending the money from abroad to their families.

Companies are crazy if they don't jump on this and I guess AXA is the smartest one out there. The remittances market is a huge opportunity for Bitcoin that needs to be used.

[neoneros]

The interest of big players in bitcoin is something we should cheer about, but it also makes me feel a bit paranoid, though BTCitcoin is the perfect coin for Remittance, a company like AXA might have a hidden agenda, just like the banks who are hopping onto the BTCitcoin train to get something out of it. Just to once again f* us all over and push us back to the drawing board because we failed at the attempt to take over the world..

It really matters. I believe in the free market. Competition would result in the best solution getting adopted.
If Bitcoin makes remittance cheaper, I don't care if it is AXA (or any other company) which adopts it.
Western Union and others will have to adapt or fade away.

In the free market, competition will result in pricefixing, hollow products, low cost outsourcing. The only 'best sollution' it will get is the best sollution for the shareholders and profit. Free market and competition will never, ever benefit the consumer, it will only destroy products, services and companies, like a locust swarm it will eat all it can and leave when it is all gone to feast on another project.