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A comment on Bitcoin's comeback: should Western Union be afraid?. Parent comment

Re:Bitcoin's comeback: should Western Union be afraid? by wmf on Wednesday December 21, 2011 @06:02PM (#3379517)
That already exists: http://en.wikipedia.org/wiki/Hawala I'm a little surprised the article didn't mention this.
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Re:Bitcoin's comeback: should Western Union be afraid? by nas on Wednesday December 21, 2011 @06:36PM (#3379620)
Yes but Hawala requires that the agents trust each other. A Hawala-like network could be built by agents who do not trust each other. Users of the network would not have to deal with Bitcoin at all.

I don't know if such a system will come into being but it seems like most of the pieces are already in place. The biggest problem would be converting local currencies into and out of Bitcoin.

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