Western Union received a blockchain patent: what are the implications for Ripple XRP

Western Union received a blockchain patent: what are the implications for Ripple XRP


Back in February 2018, Western Union confirmed that it was testing the development of Ripple, a company that announced ambitious plans to optimize payment systems. Applications for cooperation with various money transfer services and pilot projects involving xRapid have for some time successfully supported XRP afloat, feeding investors with promises. However, it seems that the testing of Ripple offers did not bring companies satisfaction.

In this month Hikmet Ersek, CEO of Western Union reported that displeased at the price consequences of the use of XRP. He expected that introduction of NT would shorten expenses and will promote efficiency. Judging on statements, changes did not happen in the best side.

Ripple representatives immediately responded to critical statements from Ersek. Ashish Birla, senior vice president of the company said:

“If they moved the large volumes facilities, maybe, they would get a due effect. But conducting only 10 transactions, there is nothing to be surprised, that no obvious economy is visible. A company accomplishes million of transactions in a month, and I am not surprised, that 10 translations through our decisions did not show staggering results”.

Now Western Union gave a patent request on cryptocurrency application. We will mark that neither Ripple nor XRP in her not mentioned. The mutual relations of Western Union and Ripple lasted all the half-year. WU, alike, did certain conclusions decided that did not want to be limited to only one cryptocurrency.

Some believe that this is another bad news for Ripple’s cryptocurrency: from the beginning of the year, from time to time, the topic of the overvalued and uselessness of XRP, the insolvency of the asset for investment, emerges from time to time. Optimists also stress on another point: regardless how the situation affects the XRP, payment giants are interested in technology. This means that crypto investment is still a reasonable solution with a vision for the future.

Leave a Comment

Your email address will not be published.

You may also like

Hot News