Not quite right. The old way of doing it actually worked like this: Bank A in country X transfers money mega-bank B in country X. Mega-bank B transfers money to

Not quite right. The old way of doing it actually worked like this: Bank A in country X transfers money mega-bank B in country X. Mega-bank B transfers money to mega-bank C in country Y. Mega-bank C in country Y then transfers it regional bank D in country Y. Bitcoin will allow smaller banks to transfer money without the help of the giant banks who have built up relationships (and binding legal agreements) over the years. Honestly, even though some large banks bullish on bitcoin, the real benefit will accrue to the smaller institutions.