Odd Couple? U.S. Postal Service Considers a Future with Bitcoin

Odd Couple: U.S. Postal Service Considers a Future with BitcoinThe U.S. Postal Service, a business model that dates to the 18th Century, and bitcoin, the latest Internet evolution, could get together and form the oddest coupling of the digital age.
It’s far from certain, but researchers for the U.S. Postal Service inspector general’s office are making the case for the struggling giant that delivers mail to help bitcoin with going mainstream and gaining broad-based legitimacy.
According to a report from Bloomberg, the inspector general’s staff is urging the Postal Service to expand into financial services, under a plan to turn around years of losses.
That turnaround could include converting local post offices into brokers for bitcoin, the top cryptocurrency that has yet to draw specific regulatory rules in the United States, or any other nation.
Bitcoin’s popularity forges forward, despite regular setbacks such as the shutdown of the Tokyo-based Mt. Gox exchange Friday.
“The post office might help address two major shortcomings that virtual currencies have today: lack of trust and lack of access,” Paola Piscioneri, a director of international research at the Postal Service’s OIG, told Bloomberg in an interview. “Today, when you transact with a virtual currency you don’t know who is on the other side.”
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