????大家最近有沒有讀到什么關于電子貨幣的好文章？

????似乎每天至少有一家主流刊物會提到電子貨幣市場的發展，同時認為電子貨幣技術有潛力顛覆支付領域。

????身為西聯匯款（Western Union）的首席執行官，我曾在多個公開場合被問及如何看待電子貨幣和跨境支付。雖然我已經談到過這個問題，但在為《財富》網站（Fortune.com）所寫的三篇系列文章中，我打算好好談談將在電子貨幣演變中起作用的幾個問題，特別是它與我們企業的關系。

????雖然企業家、風險投資者和傳媒格外青睞電子貨幣，但就本質而言，它仍是“第一世界”的金融工具。目前最主要的問題是，如果從國際交易的雙方看，無論是個人還是企業，對這種新技術都沒有明顯需求。就目前的經濟體系而言，電子貨幣沒有用武之地，但它的潛力不容小覷，我對此也興趣盎然。

????每一筆國際交易都有支付方和接收方。無論是普通個人向海外親屬兌匯錢款；還是企業在尋找在不同國家進行支付的方法以降低外匯兌換風險；抑或是非政府組織向災難過后深陷困境的人群發放援助，每筆交易都有各自的要求。

????涉及這一點，電子貨幣目前并不能使接收方獲益。難道菲律賓邊遠農村的人們能正常使用收到的電子貨幣嗎？中小型企業有花費和交易電子貨幣的技術嗎？最重要的一點，接收方，無論是個人還是企業真的想要電子貨幣嗎？如果有得選擇，他們會更傾向現金或是銀行匯款嗎？

????再者，貨幣交易是一種具有情感的交易行為。大家進行任何交易的時候，信任是首先要考慮的問題。雖然電子貨幣潛力巨大，未來有望在解決交易雙方信任方面有所突破，但最近幾個大事件無一不在警醒我們，這項初出茅廬的新技術現在還遠未成熟。如果電子貨幣不能持續進步以保護消費者的權益，并最終轉化為更高的可靠性，那么我相信，個人和企業仍然會繼續使用現金、銀行賬戶和銀行卡。

????我聽到有關電子貨幣最多的話題是它能顛覆現有的商業模式，將更多人納入全球金融體系。技術能成為“向善的力量”，我一點也不懷疑這種看法。

????不過，如果消費者大舉采用電子貨幣，我認為它可能首先在發達國家作為企業支付工具出現。如果電子貨幣受到監管，并被用于匯款，我們將需要跨境轉移電子貨幣，并以現金支付，或轉入收款方所持有的受管控貨幣的賬戶。

????消費者接受電子貨幣只是一個方面。監管和合規問題也必須考慮，這方面可謂任重道遠。關于電子貨幣的對話每天都在不斷發展，在正式的監管到位之前，這種對話可能會走兩步退一步。但說到底，這是電子貨幣真正融入全球支付業務的必由之路。

????本文作者賀博睿是西聯匯款的首席執行官。（財富中文網）

????譯者：項航

????

????Read any good articles about digital currencies lately?

????It seems that not a day goes by without at least one major publication citing developments in the digital currency market, and the presumed potential of the technology to disrupt the payments space.

????As CEO of Western Union (WU), I've been asked in various public forums about my position on digital currencies and cross-border payments. While I've touched on the subject, in this three-part series for Fortune.com, I intend to address several items that will play a role in the evolution of digital currencies, particularly as it relates to our business.

????The current digital currency narrative, while certainly attractive to entrepreneurs, venture capital, and the media, is extremely "First World" in nature. And a primary question remains -- do such innovations, as we know them today, address the needs of consumers and businesses on both sides of an international transaction? In its current form, the answer is no, but there's potential, and that is something I am watching with great interest.

????For every international payment, there is a sender and a receiver. Whether it's a customer moving money to family members in another country; a business looking for solutions to pay invoices in different currencies while managing foreign-exchange risks; or a non-governmental organization trying to get money into the hands of those who need it most after a disaster, each has their own requirements.

????Up to this point, the digital currency conversation has not addressed the practicalities on the receive-side. Will the person receiving digital currency in a rural village in the Philippines be able to use it? Will the small or medium-sized enterprise have the technology capacity to spend, or transfer it? And most importantly, does the receive-side consumer or business actually want digital currency -- if given the choice, would they prefer cash, or want the money in their bank accounts?

????Furthermore, the transfer of funds is an emotional transaction, and when you are dealing with payments of any kind, trust is a major factor. While digital currency has potential to enhance customer and business trust, several recent events within the space underscore the early-stage development of the technology. Without continued enhancements to ensure consumer protection, which ultimately translates to increased reliability, I believe consumers and businesses will continue to gravitate to cash, bank accounts, and cards.

????What I often hear about digital currencies is the power of technology to transform business models and bring more people into the global financial system. And I certainly do not dispute the notion that technology can be a force for good.

????However, if there is significant consumer adoption of digital currencies, I think it is likely to occur first in the developed world as a business payments vehicle. If and when it is regulated and used for remittances, a need will arise to transfer digital currency across borders, and pay out in cash, or into accounts maintained in regulated currency by the receiver.

????Consumer adoption is just one part of the digital currency story. Regulation and compliance issues also need to be addressed, and much work remains to be done in this regard. The conversation continues to evolve on a daily basis, and it may be a case of two steps forward, one step back, before we see formal regulation in place. But in the end, this is a path digital currencies must walk, before they can arrive, at scale, within the global payments business.

????Hikmet Ersek is CEO of Western Union.