Western Union Invests in Digital Currency Group

[avatar_kiyoshi]

Western Union, whose business model of money transfer could be under threat from bitcoin, is one of the new investors in Digital Currency Group (DCG). DCG is an investment firm focusing on the bitcoin blockchain technology space.

Could this herald changing times?
About Digital Currency Group

Digital Currency Group was set up in October 2015 to focus on investments in the nascent bitcoin and blockchain technology space. Its portfolio of investments includes 70 companies across 22 countries.

It has 3 subsidiaries – Genesis, Grayscale and CoinDesk. The CEO and Founder of DCG is Barry Silbert, who had earlier founded SecondMarket.

The amount invested by Western Union in DCG has not been disclosed.

Full read: http://cointelegraph.com/news/western-union-invests-in-digital-currency-group

Hahaha I can't stop laughing at.

[Wendigo]

Well it's no surprise to me. Western Union are well aware that people are fed up with their ridiculously high fees for sending even small amounts of money and are trying to catch up with Bitcoin. No one will use their service in the coming years if Bitcoin offers much more cheaper transactions overseas. It looks like every financial institution nowadays is interested in the Blockchain technology as it has a lot of benefits over their old infrastructures.

[botany]

Western Union, whose business model of money transfer could be under threat from bitcoin, is one of the new investors in Digital Currency Group (DCG). DCG is an investment firm focusing on the bitcoin blockchain technology space.

Could this herald changing times?
About Digital Currency Group

Digital Currency Group was set up in October 2015 to focus on investments in the nascent bitcoin and blockchain technology space. Its portfolio of investments includes 70 companies across 22 countries.

It has 3 subsidiaries – Genesis, Grayscale and CoinDesk. The CEO and Founder of DCG is Barry Silbert, who had earlier founded SecondMarket.

The amount invested by Western Union in DCG has not been disclosed.

Full read: http://cointelegraph.com/news/western-union-invests-in-digital-currency-group

Hahaha I can't stop laughing at.

Laughing at who? Western Union? or Digital Currency Group?
Western Union should actually look at acquiring fintech companies, not just passively invest in them.

[BlackPanda]

for now I have not been convinced to invest in western union. I am more interested and eager to invest my money in bitcoin.

[nanonymousx]

for now I have not been convinced to invest in western union. I am more interested and eager to invest my money in bitcoin.

This is good point.

For west union, since they do a lot of currency exchange, i think Bitcoin can significantly reduce their risk, they should really adopt Bitcoin technology.

[Patatas]

Well,earlier morning I was wondering what is a DCG. Thanks for clearing that up.Now I see DCG as a potential threat to bitcoin.Since its a "group" of people making decisions,I'm afraid establishing standards to regulate the use cryptocurrencies might come true.That's a nightmare.On the brighter side,I'm sure they can't gain control over bitcoin.Might as well start their own shitcoins to implement the rules.

[lumeire]

Western Union, whose business model of money transfer could be under threat from bitcoin, is one of the new investors in Digital Currency Group (DCG). DCG is an investment firm focusing on the bitcoin blockchain technology space.

Could this herald changing times?
About Digital Currency Group

Digital Currency Group was set up in October 2015 to focus on investments in the nascent bitcoin and blockchain technology space. Its portfolio of investments includes 70 companies across 22 countries.

It has 3 subsidiaries – Genesis, Grayscale and CoinDesk. The CEO and Founder of DCG is Barry Silbert, who had earlier founded SecondMarket.

The amount invested by Western Union in DCG has not been disclosed.

Full read: http://cointelegraph.com/news/western-union-invests-in-digital-currency-group

Hahaha I can't stop laughing at.

Laughing at who? Western Union? or Digital Currency Group?
Western Union should actually look at acquiring fintech companies, not just passively invest in them.

I suppose this is the first step. You never know, they might have been already on the lookout for companies that are worthy to buy.

[mbaeichapareiko]

be weary.     watch youtube vid regarding people involved with this project.
https://www.youtube.com/watch?v=yzG3T2XbMSE

[Denker]

for now I have not been convinced to invest in western union. I am more interested and eager to invest my money in bitcoin.

This is good point.

For west union, since they do a lot of currency exchange, i think Bitcoin can significantly reduce their risk, they should really adopt Bitcoin technology.

As far as I know they are in contact with Ripple Labs.At least this is what I read a somewhere a while ago.
This investment in DCG doesn't mean they will have a look at Bitcoin. I think it's more the Blockchain they are interested in as you mentioned.

[Jasad]

Western Union, whose business model of money transfer could be under threat from bitcoin, is one of the new investors in Digital Currency Group (DCG). DCG is an investment firm focusing on the bitcoin blockchain technology space.

Could this herald changing times?
About Digital Currency Group

Digital Currency Group was set up in October 2015 to focus on investments in the nascent bitcoin and blockchain technology space. Its portfolio of investments includes 70 companies across 22 countries.

It has 3 subsidiaries – Genesis, Grayscale and CoinDesk. The CEO and Founder of DCG is Barry Silbert, who had earlier founded SecondMarket.

The amount invested by Western Union in DCG has not been disclosed.

Full read: http://cointelegraph.com/news/western-union-invests-in-digital-currency-group

Hahaha I can't stop laughing at.

its funny but good moving from western union,might they bored to got compared with bitcoin,and of course its make they are want to know more about crypto currency,but honestly i dont too much trusted this media.

[RealBitcoin]

They are trying to ride the blockchain mania, from PR marketing standpoint.

Nothing interesting here, bitcoin doesnt benefit from these, its actually hurting it because it shifts focus away from bitcoin to "blockchain crap"

[katrimans]

for now I have not been convinced to invest in western union. I am more interested and eager to invest my money in bitcoin.

Yes its time to leave western union and paypal behind and start moving towards bitcoins.

[Evildrum]

Be a great idea to pull Western Unions numbers since bitcoin and see if there is a steady drop in transfers.
For them to operate they will need tighter regulations to operate next to the money transfer side.

[Hazir]

They are trying to ride the blockchain mania, from PR marketing standpoint.

Nothing interesting here, bitcoin doesnt benefit from these, its actually hurting it because it shifts focus away from bitcoin to "blockchain crap"

Well. Blockchain being main focus of interest of big companies is to be expected. Better to be interested in some aspect of bitcoin that not at all.
And this move will certainly add credibility to bitcoin companies and services, so I think bitcoin in general can benefit indirectly.

[Divinespark]

I think it's a purely cosmetic move by Western Union. Not convinced that they will survive crypto disruption given their fat margin induced cost structures.

[bittrojan]

Western Union, whose business model of money transfer could be under threat from bitcoin, is one of the new investors in Digital Currency Group (DCG). DCG is an investment firm focusing on the bitcoin blockchain technology space.

Could this herald changing times?
About Digital Currency Group

Digital Currency Group was set up in October 2015 to focus on investments in the nascent bitcoin and blockchain technology space. Its portfolio of investments includes 70 companies across 22 countries.

It has 3 subsidiaries – Genesis, Grayscale and CoinDesk. The CEO and Founder of DCG is Barry Silbert, who had earlier founded SecondMarket.

The amount invested by Western Union in DCG has not been disclosed.

Full read: http://cointelegraph.com/news/western-union-invests-in-digital-currency-group

Hahaha I can't stop laughing at.

another good news in this year,if this really happen and then western accept or adopt bitcoin technology,its would great,and i think bitcoin will more popular in my village.

[RealBitcoin]

They are trying to ride the blockchain mania, from PR marketing standpoint.

Nothing interesting here, bitcoin doesnt benefit from these, its actually hurting it because it shifts focus away from bitcoin to "blockchain crap"

Well. Blockchain being main focus of interest of big companies is to be expected. Better to be interested in some aspect of bitcoin that not at all.
And this move will certainly add credibility to bitcoin companies and services, so I think bitcoin in general can benefit indirectly.

Yes but they hijack the movement and in fact they totally destroy it.

A public permissionless transparent blockchain -> private permission-based non-transparent authoritarian blockchain


It fucks up the entire bitcoin project!

[cjmoles]

I don't know what to think about all these new maneuvers onto the scene but what is 100 percent apparent in my mind is that something really big is in the works!  The amount of money, power, and infrastructure making its move into this space is overwhelming to say the least.  R3CEV's investment into blockchain technology research dwarfs bitcoin's marketcap alone!   I think that we're gonna have to put on our seatbelts for a ride real soon, or we're gonna have to get ready to rumble, as they'd say when forces were aligning on the prison yard!

[Anon_7716]

This is good news for the users of the Bitcoin, as more and more companies that make investments for Bitcoin getting bigger also possible that Bitcoin will become digital currency that will be used by everyone in the world and it will have an impact on the price of the Bitcoin. Start now to keep some Bitcoin is a pretty good destination for big profits in the future

[Wendigo]

I think it's a purely cosmetic move by Western Union. Not convinced that they will survive crypto disruption given their fat margin induced cost structures.

But is it really? Is it possible that Western Union realized that they can't charge such big fees any more and get away with it just because people were forced to use their service in remote areas where there were no other ways to get remittances? Well now we have an alternative in Bitcoin and I guess Western Union are trying to use the Blockchain technology to better their service to be competitive. It's just my guess though don't quote me on that.