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I was referring to transfers between banks. I believe currently they go through the Federal Reserve in batches. A more distributed system could allow banks to t

I was referring to transfers between banks. I believe currently they go through the Federal Reserve in batches. A more distributed system could allow banks to transfer directly to/from each other in near real time.

zodiac 9y ago
A centralised system would also "allow banks to transfer directly to/from each other in near real time"
- mhluongo 9y ago
  That wouldn't be "direct", it would be through a trusted third party... Who has banking hours, could censor the transaction, etc.
  - tscs37 9y ago
    That shouldn't be an issue if all parties trust the Third party. It is only an issue if there is sufficient lack of trust that the involved fear such a thing would happen. Otherwise a block chain is overkill.
  - hatsunearu 9y ago
    Fiat currency REQUIRES the trust of the central bank, so that's not an issue.