In the world of Bitcoin and digital currency, convenience plays a key role for a majority of the userbase. Buying Bitcoin in a convenient manner remains a challenge for most novice users, as they would prefer to use traditional payment methods such as PayPal and credit cards. Coinizy, on the other hand, is doing something different by launching the world’s first Bitcoin to PayPal exchange.
Bitcoin is poised to disrupt the financial sector, and money remittance services will be among the first to feel the wrath of borderless digital currencies. Servers like Western Union and MoneyGram are the top contenders in the remittance sector, yet that paradigm might be about to shift sooner rather than later. That being said, MoneyGram isn’t feeling the pressure just yet.
Hive, one of the many Bitcoin startups around the world looking to unify financial services with blockchain technology, recently won the finals of Fintech Americas, an important event in the world of finance. Even though this competition was designed to find the “next big thing” in the remittance sector, Hive offers a lot more functionality than just that.
Bitcoin is being seen as the answer to all problems associated with the current remittance model. Sending money around the world is a tedious task and involves hefty fees. Wire transfers take weeks to clear, assuming the recipient has a bank account. Companies such as Western Union are dominating the remittance market and will continue to do so for quite some time. Bitcoin startup Beam is dropping their remittance plans for now.
A shock wave was sent through the digital currency community yesterday when news broke about the partnership between Western Union and Ripple. With Bitcoin remittance solutions popping up left, right and center, it was only a matter of time until one of the dominant players in the market decided to do something about it. But, why the choice of Ripple?
Ripple & ZipZap Take on Western Union
At the beginning of October in 2014, Ripple Labs Inc. expanded the distribution of their digital currency Ripple (XRP) and money transfer software by partnering up with ZipZap Inc. For those of you who have never heard of ZipZap Inc., the company has created a cash transaction network and decided to open it up to alternate payment methods.
A lot of smart people have been saying it for a while now : BItcoin could gain massive adoption by gaining a foothold in developing countries. Beam, which is an accra-based company allowing Africans to send money cheap and instantaneous, publicly stated there is a huge demand for Bitcoins in Ghana.
Ghana ia an underdeveloped country, with a rather low level of sophistication when it comes to their financial model. Most people living in Ghana don’t even have access to a bank account, and even if you do have one, the fees are simply outrageous.
It is due time we check back in with the developments of the Minerals team, as they have been posting some very interesting updates over the past 48 hours. Paypal, a development roadmap, and paid/public duels! Let’s go!
The Minerals community and investors can rejoice, as it is now possible to purchase your favorite digital currency with Paypal. Not to mention, Western Union is accepted as a payment method.
You can find this website here : http://mineralsale.me/
As I mentioned before, the Minerals development roadmap has been made public, and there are plenty of things still to come. Plans up until September 2014 have been revealed, including Battle.net account association and Duels.