Western Union is trash. The horse and buggy of payment systems. Might as well read by candle light.
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disagree. found myself in a foreign country having forgotten my wallet at home, a 14hr flight away. thanks to WU the next morning I had cash. 🤙
Not saying it doesn’t work. The point is it works but at a cost that’s predatory to certain populations of the world that could otherwise utilize a burgeoning technology to save precious value. Virtually free monetary exchanges versus 3-6% makes a world of difference when you don’t have a pot to piss in.
ok gotcha
i don't think horse and buggy analogy / candlelight works lol
also you can't build a business for every single population in the world.
Not to be tit for tat, but I’m just alluding to the fact that money transfers as they stand are centralized in an old manner as they’ve always been. Doubtless Western Union and the like provide a service, and a service people are willing to pay for, but we are living in a transitional era where many technologies and services are operating side by side. If you’ve ever used Lightning, you’ll realize how redundant services like Western Union are becoming. I realize it’s early, but I think it’s justifiable to speculate that they will have to adapt as new competitors start offering Lightning based services to these markets.
i hear you. very good points. i don't think "slow tech" (buggy, candles) is the same as "centralized tech" or "expensive tech" so I don't think the analogy works to illustrate your points.
I'd counter that lightning is fast but to make it useable in the real world fees must go down…and that was your point about WU
also you keep moving the goalpost 🤙plz don't
