Technological revolution comes the loss of present business

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With each new technological revolution comes the loss of a present business or function. For example, using the e-wallets takes business away from companies such as Western Union and Moneygram. For many years, this was the mainstay of people sending money back home to families still in another country. This required a person to come and with identification and provide a password or pass code to demonstrate you are the correct person to pick up the funds. With e-wallets, you can now transfer the money directly to the e-wallet, with less security and tracing ability, which brings out security and terrorism concerns (in all countries).

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Reference no: EM132143186

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