!Western Union announced a partnership with Ripple!

[kristinochka_m]

One of the largest payment systems Western Union (NYSE: WU) confirmed that it began studying the technology of crypto currency XRP. This was announced by the financial director of the company Raj Agraval at the conferences on February 13, reports Bloomberg. Rumors about the cooperation of the two companies were discussed at the last last month. Yesterday Agraval confirmed that the company evaluates block technologies and tests various joint solutions with Ripple.

[bilal_jan321]

One of the largest payment systems Western Union (NYSE: WU) confirmed that it began studying the technology of crypto currency XRP. This was announced by the financial director of the company Raj Agraval at the conferences on February 13, reports Bloomberg. Rumors about the cooperation of the two companies were discussed at the last last month. Yesterday Agraval confirmed that the company evaluates block technologies and tests various joint solutions with Ripple.

Ripple is a regulated CC that is accepted by banks and other financial institutes like WU.

"Western Union Says It's Testing Transactions With Ripple"
https://www.bloomberg.com/news/articles/2018-02-13/western-union-says-it-s-testing-transactions-with-ripple

[Dudeperfect]

I am not surprised with this news because ripple is a protocol which takes the benefit of blockchain technology but without the decentralization part of it. In other words, it is a bitcoin of banks or financial institutions having centralisation principle in their business culture. This is something that was much needed for these financial institutions in order to survive during and after the coming transformation period of the global financial world.

[kueyen]

Ripple is a weird coin that will rise after news like this. Although I'm not sure whether this will be the case now, since pretty much the entire market is down, but news like this will definitely provide some opportunities to make money in the future, since you will know when you should dump your coins.

[ninche]

ripple will have very promising future if that really happens

[Sendibere]

Western Union is interested in the blockchain technology and Ripple techniques and wants to benefit from them. Transfer of money by digital currency was currently under test as one of Ripple services. Which uses the blockchain and Ripple Network with the digital currency in each transfer process.

[joniboini]

Western Union is experimenting with Ripple for settling transactions and for capital optimization. Western Union is also testing Ripple’s native currency, XRP, a spokesperson confirmed. And which is also testing XRP in money transfers.

So does this mean they've officially partnered?

The term "testing" doesn't quite reflect it from what i understand.
Sure, they are testing xRapid which uses XRP as its money to maybe replace SWIFT and conventional money transfer, but i kinda get a message that if their test doesn't turn out to be good, they'd not use Ripple.

--
Btw, should not this topic moved to Alt discussion?

[Rabblerah112]

They have to stay relevant somehow.  I think palm beach confidential was right about Ripple being big although I dont like how cozy it is with banks.

[stompix]

The Western Union and Ripplcoin deal is a great development. We are in a period when we need such positive news. crypto-currencies will be used by the Western Union in collaboration technology.

No it's not great and it's nothing positive.

Ripple is a centralized coin, it has nothing to do with the usual cryptos, it has nothing to do with bitcoin.
It's totally controlled by the Ripple labs, they can freeze your coins at any time, they can deny payments, they can print coins , they can do whatever they want with that.
Talking about Ripple is like talking about digital fiat.

[JuniAiko]

Banks/companies testing transaction with Ripple isn't that relevant to us. But what will be relevant is if those companies are gonna adopt the XRP coin when using the Ripple Network or not IMO.

[chidrawarster]

Its a good news if this is true. Crypto currencies becoming a partner with the branded payment processors indicates the importance of crypto  currencies in the coming days. Hence i am not worried that the market drops or rises, instead i will wait and wait for a better future of all of us.NIce to hear the news again , expecting some more good decisions for the crypto world.

[Kakmakr]

The Western Union and Ripplcoin deal is a great development. We are in a period when we need such positive news. crypto-currencies will be used by the Western Union in collaboration technology.

Positive news? Which drugs are you using?

Ripple is a BankCoin and not even a real Crypto currency in my opinion. Ripple has no mining or miners whatsoever. Instead, transactions are powered through a “centralized” Blockchain to make it more reliable and fast. Do you really think WU is doing this to reduce their fees? Nope, they are doing this to be able to compete with Bitcoin and other Crypto currencies and we know how "centralized" databases has done in the past?

This reminds me of those cheap cupcakes, where they use crappy ingredients to sell their cupcakes at a cheaper price. It looks like a cupcake, but it tastes like shit. ^lol^

[seoincorporation]

One of the largest payment systems Western Union (NYSE: WU) confirmed that it began studying the technology of crypto currency XRP. This was announced by the financial director of the company Raj Agraval at the conferences on February 13, reports Bloomberg. Rumors about the cooperation of the two companies were discussed at the last last month. Yesterday Agraval confirmed that the company evaluates block technologies and tests various joint solutions with Ripple.

I don’t believe this is a great news for cryptocurrencies, since Ripple is a centralized coin -not free at all-, just based on blockchain, but really different from other cryptocoins, as Ethereum or BTC.

In the other hand, this is ok. Crypto world does not need banks, for the entire philosophy about blockchain is the freedom of money. If banks take part on it, it will be with the certain purpose of getting more money, still from the people and getting control of something that was born with the opposite will.