Western Union has filed a patent application with the United States Patent and Trademark Office titled ‘Recurring Transfer Notifications and Secure Transfers‘ that heavily mentions cryptocurrency integration.
The patent application describes an electronic system that processes secure payments, which is essentially what cryptocurrency already accomplishes. It describes how this electronic system can be used for recurring transfers. The patent specifically mentions cryptocurrency many times, including, “As noted above, in certain embodiments, electronic transfer network 100 may be a cryptocurrency network or other network using encryption protocols and techniques for performing transfers of cryptocurrency and/or other alternative digital currencies. Illustrative and non-limiting examples of such cryptocurrency networks may include a bitcoin peer-to-peer (P2P) payment network, a Litecoin network, a Peercoin network, and various other private digital cryptocurrency networks.”
To read the full article go to: https://bitcoinnews.com/western-union-patenting-crypto-compatible-payment-technology/
