[2014-11-14] CD: Bitcoin No Solution for Today's Market

[botany]

Western Union CIO: Bitcoin No Solution for Today's Market

https://www.coindesk.com/western-union-cio-bitcoin-solution-todays-market/

“Bitcoin as a technology doesn’t solve any problems for us in the core of our business. Our challenge is the last mile. How do I get that money in the person's hand, and meet all the regulatory compliance needs in that country? So, I don’t really need it for the minimum. Moving a bit from Point A to Point B isn’t hard. The last mile is really hard."

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[odolvlobo]

If the last mile is the hard part, then they are sunk. Bitcoin has no last mile. They won't be able to compete

[101111]

Western Union CIO: Bitcoin automobiles no solution; we have horses, they can go anywhere.

[zetaray]

Western Union is ripping people off for that "last mile". When bitcoin atm and bitcoin debit cards becomes popular, there will be no "last mile", and WU will have no market.

[Rampton]

If the last mile is the hard part, then they are sunk. Bitcoin has no last mile. They won't be able to compete

I think bitcoin is a long way off at taking down such a giant, but I hope you're right. I'm sure if bitcoin starts to take a bite out of their market then their only option will be to at least change their business practices and hopefully lower fees.