
Bitcoin Startup ArtaBit Working On Cheaper Alternative To Western Union
By Morgen Peck - IEEE Spectrum
Every summer job I ever held before I turned twenty was in or around a kitchen. I did it all—scrubbed dishes, garnished dishes, grilled, baked, waited and frialated. And during that time, I worked closely with many Central and South Americans, all of whom shared one thing in common. Every week or every month, they all sent a fraction of their wages back to the families they had left behind. Some dared to send cash in the mail, but most passed it through a money transfer service like MoneyGram or Western Union. Economists package all these messy human details into one clean phrase: remittance market. It's the business that...