A little correction is needed in your thread. Banco Masventas has partnered with Bitex and not "Dicks" (really!!!?
). They are planning to explore bitcoin payments using bitex platform. A normal person will pay in fiat and bitex will convert it into bitcoin to send it to the recipient bank. The recipient bank will receive the money and convert it back to fiat. That is the basic operational structure of this partnership. They are trying to cut the intermediary banks to lower the commission and maximize the profit from each cross-border transaction, which is actually possible with cryptos.
This is exactly what i was thinking. It seemed at a joke at first.
That is in fact, a
really good strategy. If they do it properly and it turns out fine, then the possibilities for Bitcoin will be endless for banks and that of course will contribute towards mass adoption a lot more. I believe it's probably a matter a time before it happens.
Especially Argentina could make good use of it to ease the inflation spiral if they know what to do.
