Western Union Blockchain Patent & Ripple XRP
This year on February, Western Union CEO Hikmet Ersek affirmed that his organization was actually experimenting with Ripple’s items for regulating transactions, exchanges and equity optimization. The mentioned situation came a month after Ripple, which is endeavoring to turn into the top-name in worldwide money exchanges and transfers, reported about a few prominent partnerships incorporating the potential tie in with Western Union’s opponent, Moneygram.
This would appear to be incredible news for Ripple, the parent organization of digital asset XRP. In any case, toward the beginning of July, Ersek appeared to show that he wasn’t content with the cost ramifications of utilizing XRP, as he had been hoping to make greater savings and see increased efficiency. Senior VP of Ripple product, Asheesh Birla, reacted by saying:
“If they were to move volume at scale, then maybe you would see something, but with 10 [transactions], it’s not surprising that they’re not seeing cost savings. They do millions of transactions a month, and I’m not surprised that with 10 transactions it didn’t have earth-shattering results.”
Western Union have currently petitioned for a patent for an application that uses cryptographic money, however there is no reference of Ripple or XRP. The others have mentioned that this is terrible news for Ripple, and are concerned over their investments done in XRP. Nonetheless, the straightforward fact that organizations as great and well developed as Western Union are making investments intensely and even seeking to patent crypto-systems demonstrates that putting resources into cryptographic money isn’t just a brilliant idea, yet it’s the future.
The partnership with Western Union and Ripple is scarcely a half year old, and Western Union won’t have any desire to confine themselves to one cryptographic money; that is simply great negotiating business meaning. In any case, with such a high enthusiasm for blockchain arrangements and how they can be connected for future innovation, Ripple and XRP’s future is seeming splendid, alongside whatever is left of the digital money world.