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.