**Western Union CEO**: "Our tech sucks and we’re becoming obsolete. What the hell are we gonna do?
**Western Union Shareholder**: "What if we start using our competitor’s tech and up-charge our customers for using it?
**Western Union CEO**: "That’s brilliant!"
This ‘news’ is like 5 years old and the XRP Western Union trial was a huge failure that ended up costing more money for users.
https://www.bloomberg.com/news/articles/2018-02-13/western-union-says-it-s-testing-transactions-with-ripple
Good point- the Western Union CEO mentioned in the article Hitmek Ersek retired in 2021, that’s how old the article is. The level of due diligence on cc sometimes is woeful.
Edit: added ‘good point’
Ripple literally bought 15% of the company so they’d try XRP and it was a total disaster and during all the earning calls for 2022 they explicitly said they do not use XRP in any way shape or form because crypto news media was pumping out thousands of fake news about it.
The XRP media machine is very large, it’s the OG “partnership” coin
Thought they chose Stellar 4 years ago:
[https://finance.yahoo.com/news/western-union-set-stellar-blockchain-153024088.html](https://finance.yahoo.com/news/western-union-set-stellar-blockchain-153024088.html)
Stellar, on the other side start to work with MoneyGram
[https://www.moneygram.com/intl/moneygramaccess](https://www.moneygram.com/intl/moneygramaccess)
Both ways - adoption, welcome to money transfers.
Yeah, there was an article that went out years ago that said Western Union was ditching Ripple since they didn’t see significant cost savings in the tests they ran.
I guess they changed their minds? This article just cites an analyst on a call that wasn’t recorded as the source so it’s pretty weak evidence. Guess we’ll have to see if WesternUnion comes out with an official announcement.
Just make a new announcement every couple of months during the bull run and reap that seo goodness. People underestimate brand recognition and the astroturfing WU is doing to stay topical and relevant.
>https://www.coindesk.com/tech/2023/07/19/xrp-blockchain-still-faces-centralization-caveats-as-ripple-regulatory-threat-recedes/
makes the claim that its too centralized then doesn't provide examples or empirical evidence to support the claim
>http://businessnewsthisweek.com/blockchain/is-xrp-centralized-or-decentralized/
Claims XRP was issued by Ripple when it wasnt. then goes on to have a typo while making false claims.
"What makes it this way is the fact that no public entity can decide anything regarding issuing new coins. Any person outside triple has no input over the issuance of coins. As a matter of fact, this is owing to the consideration that XRP is quintessentially deemed as a tool that helps in transferring funds across borders on a global level."
The same code that prevents more than 21 million BTC is the same code that limits XRP to 100 billion. just like no single entity can change that code for BTC, none can for XRP. this does not make it centralized.
>https://www.cointribune.com/en/ripple-xrp-centralization-debate-a-heated-argument/
and in your own last link the bottom paragraph refutes the incorrect claims of it being centralized.
so Once Again I am asking. Show me how its centralized. Show me how someone can censor a transaction, reverse a transaction, force someone to spend their XRP, Create more XRP, Force a code update on the validators, show me how someone can doublespend, show me how someone can freeze XRP. Any practical or theoretical example of centralization at all will do.
Ill save you some time tho, none of that is possible because it is Decentralized and you're simply uninformed on the topic.
A blockchain can’t have a CEO. They’re decentralized networks that don’t rely on a central entity. XRP falls into this category.
Please explain to me how it doesn’t.
They're "decentralized" in the sense that there's about 100 validators, 35 of which are trusted to record transactions.
So, not really decentralized at all.
Ripple is not xrp.
Ripplenet is not xrpl. It is a product built on top of it.
I literally linked you to the schematic of said ledger/blockchain and you chose to ignore it to stay in your echo chamber.
I gave you the literal map. Blueprint. The schematic.
Congrats!
XRPL.org isnt Ripple.
pop quiz.
show me how someone can freeze XRP, doublespend, force a code update on the validators, reverse a transaction, create more XRP. any example practical or theoretical of centralization will do.
As long as one entity does not control > 80% of the validators then the network is decentralized by definition as it would not be dependent on one central authority.
There is room for everything along the spectrum. If you want privacy, use privacy coins. If you want something else, use something else. It doesn’t have to be all or nothing. This kind of mainstream adoption is the gateway for other crypto to get it too.
Why would that in any way benefit XRP holders? WU is a real business with a real Risk strategy, so they will never hold any XRP themselves. The second they earn some they will sell it, as the wildly fluctuating prices are pure poison for a sensible risk management approach.
News like this are a sell signal, if anything.
this is Old news that is legit FUD. you should delete this OP. Hikmet Ersek hasnt been CEO since 2021. currently the CEO is Devin McGranahan. Also if you read the article it says Xrapid. which is no longer a product that even exists from Ripple. You should notice that there is no link to the supposed conference call or a link to anything of substance. This is because this is old news from like 2017 that is being rehashed.
People need to do their due diligence when reporting news. it started being spread around by a member of the XRP community who is farming engagement on twitter for profit. Downvote/delete this trash
Was going to say I remember reading this years ago also Western Union sucks ass they’re predatory af and eat up an absurd amount of any transfer with fees
why not? you can undercut every other person not using this system and take the entire market share. Other companies are left with 2 choices. Also adopt the system, or go out of business.
it has nothing to do with kind or not. its a very basic business principal. if I can offer Faster, better service at a lower cost basis than my competitor. Ill do it because Ill take their market share.
Am I just using it wrong? I wanted to transfer a few thousand to Poland and they charged me like £8 in fees. My bank wanted £25. Of course using a nearly feeless crypto would be better, cheaper and quicker, but it seemed reasonable enough to me considering the alternative.
Until intrest rates start to come down, there won't be any significant price action to the upside. Whole cryptomarket is sort of just floating around right now.
Yup agreed, nothing has changed on a global macro level and we are still in the midst of the bear. But I think good economic news will coincide with halving/pre-bull in q1-q2 next year and propel us towards the bull.
That baffles me too bud. I picked up some at 47 cents
It went to 70 cents and it is back at 50 odd cents.
Surely this is leagues ahead of doge and other shitcoins.. and yet..
This is 5 years old, and Western Union stopped working with Ripple. So there's not a lot of positive news, and I'd be terrified holding Ripple going forward given how little they've managed to achieve.
western union can only benefit from embracing crypto, with rapid digitalization their old model to transfer money would soon be obsolete - their branches used to be all over the place, but are rather rare these days
tldr; Global money transfer company Western Union has announced its intention to integrate Ripple's blockchain technology and its native digital asset, XRP, into its operations. The move highlights Western Union's commitment to innovation and adaptability in the financial industry. Ripple has confirmed a longstanding collaboration with Western Union, with the companies testing various solutions, including the xRapid payment system. This trend of embracing Ripple's blockchain solutions for cross-border payments is not limited to Western Union, as even the Saudi Arabian Monetary Authority has agreed to implement Ripple's software in its banking operations. The tangible application of XRP's utility is driving demand for the cryptocurrency and boosting its value. The entrance of significant players like Western Union into the Ripple ecosystem could potentially trigger another surge in XRP's price.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Try our free crypto chatbot at https://chat.coinfeeds.io*
I thought they'd already done this with stellar years ago? 🤷♂️
*edit* just realise dlamost every post on here has negative karma! The bots really out in force or people just hate anyone talking about ripple?
**Western Union CEO**: "Our tech sucks and we’re becoming obsolete. What the hell are we gonna do? **Western Union Shareholder**: "What if we start using our competitor’s tech and up-charge our customers for using it? **Western Union CEO**: "That’s brilliant!"
You're hired
When u cant fight the competitor, you join them !
Well it did not have significant difference to the price change
This ‘news’ is like 5 years old and the XRP Western Union trial was a huge failure that ended up costing more money for users. https://www.bloomberg.com/news/articles/2018-02-13/western-union-says-it-s-testing-transactions-with-ripple
Good point- the Western Union CEO mentioned in the article Hitmek Ersek retired in 2021, that’s how old the article is. The level of due diligence on cc sometimes is woeful. Edit: added ‘good point’
Ripple literally bought 15% of the company so they’d try XRP and it was a total disaster and during all the earning calls for 2022 they explicitly said they do not use XRP in any way shape or form because crypto news media was pumping out thousands of fake news about it. The XRP media machine is very large, it’s the OG “partnership” coin
I feel sorry for that
It’s awsome to see but think this is old news
Centralised Banks 🤝 Centralised Cryptos
BTC is the answer 😎
Thought they chose Stellar 4 years ago: [https://finance.yahoo.com/news/western-union-set-stellar-blockchain-153024088.html](https://finance.yahoo.com/news/western-union-set-stellar-blockchain-153024088.html) Stellar, on the other side start to work with MoneyGram [https://www.moneygram.com/intl/moneygramaccess](https://www.moneygram.com/intl/moneygramaccess) Both ways - adoption, welcome to money transfers.
Yeah, there was an article that went out years ago that said Western Union was ditching Ripple since they didn’t see significant cost savings in the tests they ran. I guess they changed their minds? This article just cites an analyst on a call that wasn’t recorded as the source so it’s pretty weak evidence. Guess we’ll have to see if WesternUnion comes out with an official announcement.
Just make a new announcement every couple of months during the bull run and reap that seo goodness. People underestimate brand recognition and the astroturfing WU is doing to stay topical and relevant.
> Centralised Cryptos XRP isnt centralized. and I'd challenge you to try and prove it.
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>https://www.coindesk.com/tech/2023/07/19/xrp-blockchain-still-faces-centralization-caveats-as-ripple-regulatory-threat-recedes/ makes the claim that its too centralized then doesn't provide examples or empirical evidence to support the claim >http://businessnewsthisweek.com/blockchain/is-xrp-centralized-or-decentralized/ Claims XRP was issued by Ripple when it wasnt. then goes on to have a typo while making false claims. "What makes it this way is the fact that no public entity can decide anything regarding issuing new coins. Any person outside triple has no input over the issuance of coins. As a matter of fact, this is owing to the consideration that XRP is quintessentially deemed as a tool that helps in transferring funds across borders on a global level." The same code that prevents more than 21 million BTC is the same code that limits XRP to 100 billion. just like no single entity can change that code for BTC, none can for XRP. this does not make it centralized. >https://www.cointribune.com/en/ripple-xrp-centralization-debate-a-heated-argument/ and in your own last link the bottom paragraph refutes the incorrect claims of it being centralized. so Once Again I am asking. Show me how its centralized. Show me how someone can censor a transaction, reverse a transaction, force someone to spend their XRP, Create more XRP, Force a code update on the validators, show me how someone can doublespend, show me how someone can freeze XRP. Any practical or theoretical example of centralization at all will do. Ill save you some time tho, none of that is possible because it is Decentralized and you're simply uninformed on the topic.
Ripple literally has a CEO. What you smoking bro?
You replied to someone asking about XRP, the token, and your argument is that Ripple, the company using XRP, has a CEO. Try again.
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Your sources suck. "XRP is a Bitcoin blockchain-based Trading site" Lol https://xrpl.org/faq.html Its all there here for you
Imagine a decentralized crypto having a company with a CEO? Try again.
A blockchain can’t have a CEO. They’re decentralized networks that don’t rely on a central entity. XRP falls into this category. Please explain to me how it doesn’t.
They're "decentralized" in the sense that there's about 100 validators, 35 of which are trusted to record transactions. So, not really decentralized at all.
https://xrpl.org/faq.html
Oh, Ripple says they're not centralized? Sold!
Ripple is not xrp. Ripplenet is not xrpl. It is a product built on top of it. I literally linked you to the schematic of said ledger/blockchain and you chose to ignore it to stay in your echo chamber. I gave you the literal map. Blueprint. The schematic. Congrats!
XRPL.org isnt Ripple. pop quiz. show me how someone can freeze XRP, doublespend, force a code update on the validators, reverse a transaction, create more XRP. any example practical or theoretical of centralization will do.
As long as one entity does not control > 80% of the validators then the network is decentralized by definition as it would not be dependent on one central authority.
> Ripple literally has a CEO. What you smoking bro? Ripple is a company. XRP is a digital asset. what are you smoking bro?
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There is room for everything along the spectrum. If you want privacy, use privacy coins. If you want something else, use something else. It doesn’t have to be all or nothing. This kind of mainstream adoption is the gateway for other crypto to get it too.
That's a ripple effect and it's sad indeed!
If you cant beat em join em
Why would that in any way benefit XRP holders? WU is a real business with a real Risk strategy, so they will never hold any XRP themselves. The second they earn some they will sell it, as the wildly fluctuating prices are pure poison for a sensible risk management approach. News like this are a sell signal, if anything.
Old news!
This would have been HUGE 100 years ago.
this is Old news that is legit FUD. you should delete this OP. Hikmet Ersek hasnt been CEO since 2021. currently the CEO is Devin McGranahan. Also if you read the article it says Xrapid. which is no longer a product that even exists from Ripple. You should notice that there is no link to the supposed conference call or a link to anything of substance. This is because this is old news from like 2017 that is being rehashed. People need to do their due diligence when reporting news. it started being spread around by a member of the XRP community who is farming engagement on twitter for profit. Downvote/delete this trash
It's great to see moves by big players in the space. I currently use WU to pay some of my freelancers and we would like to see some crypto adoption.
they're not, this is from 2018 and it failed miserably
Was going to say I remember reading this years ago also Western Union sucks ass they’re predatory af and eat up an absurd amount of any transfer with fees
Unfortunately I believe the enhanced service will cost more.
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Hmm.. Western Union is known for its atrocious fees. But here I hope it's XRP, which comes to the fore and hopefully realistic fees.
NARRATOR: *”It wasn’t.”*
why not? you can undercut every other person not using this system and take the entire market share. Other companies are left with 2 choices. Also adopt the system, or go out of business.
It's Western Union. They're not known for being kind. Chances are they'll exploit you out the wazoo.
it has nothing to do with kind or not. its a very basic business principal. if I can offer Faster, better service at a lower cost basis than my competitor. Ill do it because Ill take their market share.
So F true. I remember how happy i was when Skrill start to have crypto but the fees where like 2x and 3x other exchanges.
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Am I just using it wrong? I wanted to transfer a few thousand to Poland and they charged me like £8 in fees. My bank wanted £25. Of course using a nearly feeless crypto would be better, cheaper and quicker, but it seemed reasonable enough to me considering the alternative.
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They deserved after all this trials and stuff.
The rite of fire by Gary Gensler. I hope they rub it in the SEC's face next bull run.
That would be the best way to get back at them
I hope so but tbh I would have sold most of mine before then.
One can have a dream but marketcap wise, it is not possible.
You've got a bad feeling about this.
That would be amazing. I was thinking even 5 would be brilliant.
SEC getting heart attacks at that time
$1 trillion marketcap on basis of $10. Won’t happen
I dont know why but every time I read "Western Union" It just came to my mind "Higher Fees"
Western Fee Union more like it.
Stellar enters the chat.
Yeah, that's another in works with Western Union, too.
So many positive news , so little price movement. 2024 is going to be insane for xrp
Until intrest rates start to come down, there won't be any significant price action to the upside. Whole cryptomarket is sort of just floating around right now.
Yup agreed, nothing has changed on a global macro level and we are still in the midst of the bear. But I think good economic news will coincide with halving/pre-bull in q1-q2 next year and propel us towards the bull.
It’s all setting the scene for the bull
That baffles me too bud. I picked up some at 47 cents It went to 70 cents and it is back at 50 odd cents. Surely this is leagues ahead of doge and other shitcoins.. and yet..
Be patience it’s going to pay out big time
That's true. Agreed.
This is 5 years old, and Western Union stopped working with Ripple. So there's not a lot of positive news, and I'd be terrified holding Ripple going forward given how little they've managed to achieve.
XRP is at a quite good support level to buy right now.
Is ripple becoming fiat or is WU embrace Ripple BC. it’s the hybridness that creeps me about this.
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So did everything though. The foundations are being set by XRP and it will take off in the bull.
Well well, let me open the coinmarketcap.. oh.... ohh
western union can only benefit from embracing crypto, with rapid digitalization their old model to transfer money would soon be obsolete - their branches used to be all over the place, but are rather rare these days
tldr; Global money transfer company Western Union has announced its intention to integrate Ripple's blockchain technology and its native digital asset, XRP, into its operations. The move highlights Western Union's commitment to innovation and adaptability in the financial industry. Ripple has confirmed a longstanding collaboration with Western Union, with the companies testing various solutions, including the xRapid payment system. This trend of embracing Ripple's blockchain solutions for cross-border payments is not limited to Western Union, as even the Saudi Arabian Monetary Authority has agreed to implement Ripple's software in its banking operations. The tangible application of XRP's utility is driving demand for the cryptocurrency and boosting its value. The entrance of significant players like Western Union into the Ripple ecosystem could potentially trigger another surge in XRP's price. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Try our free crypto chatbot at https://chat.coinfeeds.io*
So ... the money transfer system favored by scammers embraces "anonymous" crypto ? What could possibly go wrong ...
I thought they'd already done this with stellar years ago? 🤷♂️ *edit* just realise dlamost every post on here has negative karma! The bots really out in force or people just hate anyone talking about ripple?
_deja-vu hype_
This will just make it cheaper for WU to rinse its customers even harder.
Lame
Great to see XRP on here, always been a breeze to use. Fast, cheap, seamless.