06 Feb 2014 / Russia Today – Amid a rise in popularity of cryptocurrency, the financially floundering US Postal Service is considering the possibility of adding a bitcoin exchange to its current roster of non-bank financial services.
The USPS Office of Inspector General (OIG) led a webinar last week on bitcoin and other digital currencies to “explore the possibilities” of setting up bitcoin and other digital-currency exchanges at post offices as a means of boosting revenue. The event included representatives of the Federal Reserve Bank of Chicago, Booz Allen Hamilton, and the World Bank, among others, MainStreet reported.
The OIG also discussed the possibility of creating a “postcoin” as a USPS-specific digital currency.
“There were suggestions like if someone made ‘postcoin,’ ‘What would that be?’ ‘How could that help?’ If we were to employ the technology to support post office operations around the world, internationally, how could crypto currency help post offices do their business?” Darrell Duane, a bitcoin consultant who was involved in the webinar, told online digital currency site CoinDesk.
In addition to the webinar, the USPS OIG released a report covering the possible benefits of providing other non-bank financial services, including replenishable prepaid debit cards, savings accounts, and payday loans.
“The Postal Service already provides non-bank financial services like money orders and international money transfers, and many American families could benefit if the Postal Service expanded its offerings,” the OIG said in a statement.
Should the USPS decide on entering the cryptocurrency world, it has a built-in advantage considering it is already licensed to provide related services, like money transmitting….. Read more
