>An m-of-n transaction with a decent and trusted intermediary (or multiple less trusted intermediaries) could also replace bank guarantees, which is the simplest form of trade finance. There are also other opportunities in using bitcoin as proof of ownership or proof that you hold a product.
So let's replace banks with... banks?
The overhead costs that bitcoin will save are just the wire transfer fees. Beyond that, there's still lawyer time, intermediary escrow fees, etc. Those will not change.
So let's replace banks with... banks?
The overhead costs that bitcoin will save are just the wire transfer fees. Beyond that, there's still lawyer time, intermediary escrow fees, etc. Those will not change.