Quote from: Rampion on May 22, 2013, 08:58:18 AM

Quote from: Vladimir on May 22, 2013, 08:56:53 AM

Quote from: lexxus on May 22, 2013, 08:54:33 AM

Quote from: Rampion on May 22, 2013, 08:45:11 AM

Quote from: Vladimir on May 22, 2013, 08:26:23 AM

Quote from: johnyj on May 22, 2013, 08:17:01 AM

Just like a gateway in ripple, this is the point of weakness for all the P2P exchange design: That escrow/gateway must be able to communicate with banks through an authorized channel and that channel is controlled by banks

Yes, as long as you have to communicate with legacy bank systems, you will have to follow their rules and regulations KYC etc...
Do not expect this to make proper exchanges obsolete all of the sudden. You need to take the commerce completely out of legacy bank system to not depended on whims of the banks. Or we could just buy a few banks... and have them run some OT servers.

Ok, let's crowdfund that Wink

This won't work. Any bank that starts OT server will be closed for violating AML.

Indeed.

So let's buy a bank in the Virgin Islands.

This won't help either. Even if it's not closed, what's the point in a bank that is banned from dealing within international banking network?