Why not Steem Dollars then? I think ultimately Western Union and the like may actually choose or adopt a name that includes something like "Dollar". Lol
I have said to different friends over the last year or so on occasion, that I fear Western Union is about to die by Bitcoin's hand. I compare Netflix, Youtube, Google Play, Itunes,and so forth killing retail establishments like Blockbuster video. Technology and the convenience it brings, easily dominates any industry, ask Kodak.
I have friends who still have to purchase money orders to pay their rent. The Apartment complex refuses personal checks and apparently doesn't want employee's accepting cash. You can join their site online for a $50 per month fee and connect your checking account. What a ripoff!
Wow if they only knew of bitcoin and the coming technology.
Western Union was in discussions with Ripple Labs early last year, regarding a blockchain pilot project. By using a cheap payment network, proponents claim that companies will be able to cut down the cost of remittances.
The following quote from Barry Gilbert , the Digital Currency Insights Founder and CEO says it best:
“If you look at Western Union and Moneygram, they have a fantastic opportunity to take advantage of bitcoin as a financial rail and incorporate it into their business.”
After reading the following article just now, I will have to say that I think someone like Western Union may be the key player in bringing Bitcoin to the masses! The following is an article from Bravenewcoin-http://bravenewcoin.com/news/western-union-wont-make-the-same-mistake-with-blockchain/
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Here is similar content:
http://bravenewcoin.com/news/western-union-wont-make-the-same-mistake-with-blockchain/
hallo, we are Araneobit - money transfer system based on the blockchain. Fee for money transfer set independently