Western Union Testing Crypto? Legacy Getting On-Board or Left Behind

by birtanpublished on October 3, 2020

Hey what is going on it is crypto Bobby I hope you are having a great day great night wherever you are watching or listening from and it is Monday and you know what that means another episode another edition of crypto segments and in the past week there's obviously a lot of good things to talk about a lot of good things to cover from a price action standpoint the fact that Bitcoin is still above five thousand dollars after it's just sliced up through $4,200 even now above five thousand two hundred dollars pretty damn impressive the fact that eath has run up the fact that a lot of the larger cap alt coins have run up

Or a held their ground against Bitcoin very impressive but what we really want to cover today is obviously what everybody's thinking and that coin of the week that is the best part of the week for so many people and we're gonna cover coin of the week we have a fantastic oh you think we have a new segment it is the coolest product of the week so anytime there is an interesting crypto project company that releases a product out to the wild we'll talk about that and a number of other projects as well so you might be noticing I have a

Slightly newer set up right now and that's actually in preparation for an interview that is happening tomorrow and most of my interviews in the past have just been over Skype or over Google hangout whatever it might be this one actually gonna be having a person it's with Alex Adelman the CEO of Lally so I'm pretty excited about that to actually have an in-person interview I feel like they go a lot better and there's just a lot smoother so beyond do you look out for that tomorrow Lally is an awesome product and I'll go into how I made some money buying bonobos

Literally paid in Bitcoin which is pretty damn awesome let's kick segment's off this week with I think one of the more underrated stories around and it's not necessarily because of the entire I would say context of the story but it is because the way in which things have changed and I think things will continue to change in the future and so this is shout out Spencer noon this is at Spencer noon on Twitter posted this this was Western Union from 2014 it's an article from coin desk in 2014 Stan Higgins on November 14 2014 Western Union CIO

Titled Bitcoin no solution for today's market now if we go to today April 8th 2019 Western Union integrates with crypto wallet to expand Philippines remittances now or anybody who's not super familiar the remittance market is huge and that was really one of the big I think use cases a lot of people were initially excited about and some of that steam has since kind of panned off but Western Union is massive in their remittances market but not even looking at remittances market why is this the underrated story of the week well it

Goes to show in my opinion that you know these large businesses these massive multi-billion dollar corporations like Western Union that five years four years ago or so were dismissing Bitcoin dismissing cryptocurrency are now either trying to integrate with this to future-proof some of their business or they are getting on board the train the same could be said about JP Morgan and the way things are being approached there where hey bitcoin is a big scam bitcoin is the worst thing in the world oh by the way we're building JP Morgan coin on poram and we are

Testing out whether or not we can help create operational frequency or operational efficiencies and financial efficiencies for ourselves and for our customers by leveraging blockchain technology very similar to that and I think what you're going to see in the future is this shift where a lot of the people that have initially come out and been detractors of cryptocurrency a Bitcoin blockchain technology are somewhat flip-flopping a little bit and saying hey you know this thing maybe either isn't so bad or maybe we should at the very least try some of this

Technology try to implement it into our business because if this really is the future then there's some element of future proofing there if not then do we go about our merry way then we kill the competition so for me this is really the underrated story of the week is that Western Union is integrating cryptocurrency into Philippine remittances as that is one of the major business operations that Western Union continues to charge a absolute ton of fees on something that there is a huge margin to drive down but it does come down to cryptocurrency

Technology and adapt moving on from the story of the week we have our fallen soldier and if you might remember the first fall in soldier we have I believe was our favorite Phil Kohn who rose from the dead and speaking of rising from the dead there is one individual that contributed to an incredible amount of FOMO an incredible amount of excitement and cryptocurrency there is only one spiritual guide to $100,000 in this world some of you may know who I'm talking about and that man has not been with us for quite some time he's been gone out of our lives after a

Parabolic mania died down after we just no longer could redraw anymore parabolic lines oh wait hairball Trev is a back after a little rise up from the dead from going Bitcoin going to you know $3,200 to $5,200 so our fallen soldier of the week is actually a risen soldier he was shot down in the battlefield he disappeared for a few months and now he's back now the Bitcoin is is crushing it but part of me is happy part of me is sad because it just goes to show that if cryptocurrency if the cryptocurrency market if the Bitcoin market does go away you know it does actually come back

There are a ton of people that have just dipped out for a long time maybe there's some YouTube content creators that have dipped out for a while and they come back when the timing is good maybe there's some Twitter people that dip out and the funny part is if you know Bitcoin goes back and breaks above $6,000 again and you see maybe one day in the future you see $8,000 Bitcoin $10,000 Bitcoin the cryptocurrency market comes back and the FOMO associated with that everything will be forgotten and my dumb ass making videos and podcasts during this bear market

Well have nothing to show for it but trav will be back drawing parabolic lines and I respect it because he didn't have to do anything during the bear market and hey we're back to square one and for the decorated wonderful title of coin of the week we have to give it to everybody's favorite privacy focused institution out there there's only one privacy focused institution that comes top of mind when it comes down to your digital identity and securing that identity and not monetizing that to the absolute fullest potential possible who would that be my task obviously Facebook

And this comes from Nathaniel popper who has been covering the Facebook coin story for The Wall Street Journal and he had a brand new update today that read this update on Facebook's cryptocurrency sources tell me that Facebook is now looking to get PC or venture capital firms to the uninitiated to invest in the Facebook cryptocurrency project we reported out earlier this year I hear they are targeting big sums as much as 1 billion dollars given that one of the big alerts of blockchain projects is decentralization getting outside investors could help Facebook present

The project as more decentralized and less controlled by Facebook one person I spoke to with that said Facebook is talking about using the money as collateral for its cryptocurrency Facebook has been designing the coin to keep a stable value peg to a basket of foreign currencies held in bank accounts it's interesting to think that one of the richest companies on earth is raising money when was the last time they did outside fundraising so Facebook is creating facebook coin they've hired a ton of talent they are working on it they've been rumored to have been

Working on this for quite some time yadda yadda yadda and because Facebook is is really poor and they don't have any money to collateralized their Facebook coin stable coin they're going to the most decentralized fundraising mechanism possible who is that venture capitalists and the interesting part about this is if you're creating a stable coin per se that is supposed to be pegged to the value of a dollar why would a venture capitalist want to invest in such a stable coin they're obviously not doing that out of the

Goodness of their heart and out of their charitable aspirations right there's got to be a way that they're making money here so how are they making money that remains to be seen but also pretty freakin hilarious that to present their cryptocurrency as more decentralized it's probably gonna get bought by Excel sequoia benchmark whoever the hell I don't know Peter Thiel's firm whatever it might be and because Facebook is raising 1 billion dollars for a stable coin to be decentralized by venture capitalists it definitely deserves the chicke coin of

The week but hey I mean if EOS could raise four billion dollars Facebook raised one right so this week's oh you think is one of my favorites I think of all time this is just my favorite naming and branding idea ever and we'll go into this article from coin della graph here blockchain based decentralized application platform that platform Tron has revealed the expansion plan of its second layer scalability solution the Sun Network Justin Sun aimed second layer scalability solution the Sun Network

You think on what planet are we on that we can't get any more creative than naming it like do we have the first layer Network is it just name Justin the second layer network named Sun and then we're just acting like this is some grand decentralized platform that doesn't have a God Savior leader that was the first millennial graduate of Jack Maz millennial course which by the way he donated to this week so hey whatever but really holy hell is that the best naming ever like I I can't even get over it it's so awesome it's so bold it's so

Fantastic you have to just respect the fact that Justin is just pulling all the strings printing all the money just doing it all and naming it all after himself I love it so much I hate it but I really love it and when buffalo-chicken coin goes live you can absolutely absolutely expect that the second layer scalability solution on buffalo chicken coins new DAPA blockchain will be a bobby network because you know there's there's it's it's very decentralized so i'll just say that and so for the cool product of the week this is something that I wanted to

Turn into a segment where hey if something launches during the week that I think is interesting that you guys can leverage that's the big thing is is it something that either I've used rum consider using and this actually came out today so this is Dharma it is a blending platform on a theorem I was actually one of the kind of like alpha testers for it and it's something that now is is launched publicly and I'm a fan of as a lot of you guys know I've been experimenting with Maker Dao CDP's I've been experimenting with compound finance I've done a lot of different

Lending on a theory and platforms Dharma is pretty awesome and this is not this this segment will not be sponsored or anything like that ever and if you guys do have suggestions for me to try out the future as always hit me up because I want suggestions I need nominations for this but so this week Dharma launched that literally launched today for the public and you can get if you are borrowing aetherium you can borrow a theorem at point 1 percent interest so very cheap to borrow and you can actually receive 2.5 percent interest

Lending and then on the dye side of the house you are borrowing you will pay 4% interest and if you're lending you'll actually receive 8% interest so really solid terms there and these are on 28-day terms I believe but trying to kick-start their network if you are somebody who is looking to play around with some of these like quote-unquote open finance tools this is I think one of my one of the the better tools out there in addition to compound finance in addition to maker Dow CDP's but if you hold some eath or if you hold some dye you're trying to earn interest on it

This is one way or if you want to borrow cryptocurrency if you want to borrow aetherium or if you want to borrow dye pretty damn cheaply at either 0.1% with eath or 4% would die you can also do that so I will would definitely recommend you check that out I've used it again I was part of the Alpha test group and I was lucky because I borrowed some aetherium or Oda theorem prior to the big spike up recently so I borrowed it on a 28-day term at around 150 bucks a pop and now I am nicely levered up long I would say on aetherium so if you're looking to gain additional

Exposure to eath or to just kind of get a get a loan out dharma is a pretty cool way to do so and lastly trigger bobby will save I don't want to say the best for last but yes like when I get triggered right I I kind of like getting triggered and this is something that is an interesting subject and this is titled this from coin best the ripple co-founder donates 25 million in XRP to a u.s. University so the article continues to stay the rebel co-founder and executive chairman Chris Larson and his wife have donated 25 million dollars in the XRP cryptocurrency to San

Francisco State University and sounds great maybe at at face-value okay this you know this guy donated a bunch of money to a university and maybe can help some people get scholarships learn or build some new building to just facilitate learning whatever it might be I don't know but what kind of triggers me about this is is twofold so as you guys know I am NOT a like a Bitcoin maximalist by any stretch I hold eath have a lot of coins I I dabble in chicanery and sometimes I think like the the Bitcoin hard money Austrian economic stuff I

Don't want to say it's overplayed but sometimes I kind of almost like look at it I'm like hey you know not that many people either are interested in this or or get that or it appeals to it but then I see something like this where I look at ripple or XRP or whatever whatever you want to say xrp was a gift from the gods to the ripple corporation the ripple founders and they basically paid everything on that whatever I'm not gonna like sit back and and completely on XRP and ripple right now but XRP was essentially created out of thin air which so was the

Theory I'm in many respects and so is basically any I see owed cryptocurrency so extra pew is basically created out of thin air and the founders obviously had a large portion of that and they are now swimming in XRP is as money and they can do a number of different things like that like donate that to universities now when I look at that's great they donated it to a university but what happens to the extra RP holders here how are they when you're donating this XRP to San Francisco State University presumably they're not interested in holding XRP on their balance sheet

Forever and they'd like to probably cash that out into the US dollar to actually utilize that right like this type of donation in my mind only hurts the XRP holders it's basically dumping 25 million dollars at some point in time of XRP onto the open market for the holders to have to bear the brunt of and it does go to show the interesting aspect of hard money to me and even when you look at something like these coinbase earn giveaways to or coinbase is giving away xlm or they're giving away CRX or they're giving away you know ba t or whatever it might be to watch videos

It's notable that they're not giving away Bitcoin because bitcoin is hard money and xlm was printed out of nowhere XRP was printed out of nowhere a lot of these crypto currencies that basically been gifted from the gods or prominent engineers fingertips so this is something where I think oh hey this this it's such a nice sounding headline but in the end who is it hurting and I think it hurts the the XRP holders who are kind of the ones who are providing the actual monetary value to something like this to actually be donated to a university but it only goes

To hurt them so kind of gift me a little bit triggered and that's my my two cents on it or two XRP per se and that concludes this week's Monday segments if you enjoyed this make sure to hit that thumbs up button if you're watching on YouTube you're listening on the podcast I would always love a rating and a review and as always I'm trying to make this as interactive as possible so of on Monday or Monday morning or maybe Sunday over the weekend even throughout the week if you have an idea for a segment if you have somebody that classifies for an oh you think or a coin of the

Week hit me up let me know because I'm always keeping an eye out but it would love to get your nominations here as well again thank you so much for watching endless then crypto Bobby signing out hope you have a go on peace

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