WesternUnion Receives a System Patent That Provides Crypto Money Security

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A new patent, made by Western Union and ratified in recent days, has shown that there is a system that allows reliable payments on crypto money networks.
The application filed by the US Patent and Trademark Office clearly shows that Western Union, the Englewood-based based and the world's largest money transfer firm, is concentrating on the security of electronic payments. One of the most important points that strikes the applicant at the end of 2016 is credibility.
In this new system of Western Union, biometric validation systems are working to approve the submission of senders. These systems; fingerprint, retinal scan or a voice sample.
Although it is stated that the system is mainly developed to secure the security of the electronic networks immediately, the official text emphasizes that the electronic transfer network may be cryptographic networks such as Bitcoin, Litecoin or Peercoin in various situations. Peercoin's involvement in this application also states that the patent must be filed in 2016 and that Peercoin will continue to exist at that time.
In the patent application the following expressions are used:
"In various cases the electronic transfer network can be transformed into various traditional or digital monetary types. These may be confronted as currency types, cryptographic currency or other currencies and types with or without central. Regions in the regions can also see changes in this network. "
The lack of XRP in the application made some attention. Because Ripple's crypto-money XRP is a blessing for money transfer companies like Western Union. The fact that the XRP is not in this application does not mean that the company does not cooperate with Ripple. Western Union signed a business partnership agreement with Ripple early this year and announced that the company is accelerating its efforts to use its products for payment processing. However, the company's Turkish CEO, Hikmet Ersek, recently announced that they were not satisfied with the results of the trial period by making a statement.

Ersek, without giving much detail at that time, used the following expressions:
"Western Union has been constantly criticized for its ineffectiveness, but I have not lied about it, if we did not see our Ripple's effectiveness in this test. This system is still very expensive in practice. "