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RE: How Spark is Breaking Up Western Union’s Hold on the Remittance Industry
I think Western Union are quite vulnerable to developments in cryptocurrency. Typical case of a company with a near monopoly in an industry becoming complacent and being heavily disrupted by innovative technology.
Western Union is a old and rigid entity which takes time to move. With their monopoly, their interest is to move as little as possible to keep the biggest market share.
As they are working with banks all over the word, cryptocurrency is a treat for them. They have started to test the ripple coin (bank focus) with their technology.