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by wmf 5291 days ago
That already exists: http://en.wikipedia.org/wiki/Hawala I'm a little surprised the article didn't mention this.
1 comments

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.