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Author Topic: Travelex Exploring Bitcoin?  (Read 778 times)
crazy_rabbit
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May 09, 2014, 06:26:13 PM
 #1

This seems to have slipped under the radar. They don't mention bitcoin directly, but they say Travelex is "exploring peer-to-peer exchange" which we all know sounds like it could be bitcoin.

Anyway, have a look.

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/10806091/Travelex-explores-peer-to-peer-currency-trading.html

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May 10, 2014, 10:59:53 AM
 #2

I can see why you would come to that conclusion, even though they don't even mention Bitcoin it is still the first thing that comes to mind.  Not so sure that is what will be the outcome in this situation.  I honestly get the feeling Travelex may be so bold and create their own coin, who knows.
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May 10, 2014, 01:48:39 PM
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It sounds to me like TravelexCoin is the idea. But they'll use a client-server model for that, users will be fooled into believing it's peer to peer "because I can send it straight to any other phone with the app". People are stupid. The question is, will non-tourists accept it where there's no Travelex office to get local fiat?

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May 11, 2014, 04:45:52 AM
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yes I really think it's more about creating their own coin, but who knows
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May 11, 2014, 09:00:18 AM
 #5

It sounds more like they are setting up a system for traditional currency exchange in a peer to peer manner. Think eBay/AirBnB, collaborative economy style companies so they can profit on FX without providing the bulk of the funds themselves.

Example:

Bob has 100 Dollars and wants to exchange for Euros - Jane has 72 Euros and wants to exchange for Dollars. They both visit the peer-to-peer exchange hosted by Travelex and organise to trade, either via bank transfer or more likely some sort of escrow account where Travelex take a small fee.
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May 11, 2014, 10:59:24 AM
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put five bucks that they  didn't mean bitcoin by peer-to-peer exchange
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May 11, 2014, 12:19:02 PM
 #7

they dont mean bitcoin

they mean ripple clone
where customerA links their bank to a clone of ripple and trades their dollars for customerB euros.

then because travelex has CustomerA's dollars and customerB's euros:
CustomerA can visit a travelex Bureau De Change showing their 'ripple' receipt/userbalance and withdraw Euro bank notes
CustomerB can visit a travelex Bureau De Change showing their 'ripple' receipt/userbalance and withdraw Dollar bank notes

well thats how i perceive the system working

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