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RE: Western Union announced a partnership with Coinbase
I don't understand their involvement. Cryptocurrency is looking to take the middleman out so how are they looking to survive with no fees? They'll drown as these currencies take a stronger hold in society. What is there strategy?
If you think of it from a different point of view, the majority of people who do not know about cryptocurrency and how it works. This is a great business plan for Western Union due to that many people are not willing to learn how cryptocurrency came about or how it works. Most people just want an already working program that they can have someone else manage. So even though cryptocurrency and the blockchain take out the middleman, there will still be a demand from people who will want that middleman there. Because that is all they know.
@nyozekii great response. I guess if their betting on it then they will win but the profit margin might not pan out for the effort. I could be wrong.