Bitcoin Will Fix Remittances With Or Without The Western Unions Of The World

"In the late 90s, as personal computers and the Internet were increasingly finding their way into American homes, there were those who either didn’t recognize the disruptive power or potential they would have, or they felt threatened by their emergence" 

We saw this again in the early 2000s, as companies like PayPal emerged and forever changed our willingness to pay people over the Internet; including paying complete strangers.

As PayPal quickly became ubiquitous and was changing the payments industry and commerce, most of the big banks and credit card associations stood pat and instead chose to fire off public lasers at PayPal, citing security, protections and regulatory hurdles as reasons PayPal would falter and was a risky proposition.

Unfortunately for them, what they should have been doing during that time was innovating and improving customers’ lives; doing so could have very likely eliminated the need for a PayPal to even exist.

Read more: Western Union, which discontinued the use of telegrams in 2006, has fired several shots in recent weeks aimed squarely at bitcoin specifically and digital currency generally.