Well
      If fiat money is in users bank account, there are some central
      authorities that can shut down, 
      - Central banks
      - Private banks. 
      - Governments...
      
      Could be possible to think about substitution of banks
      by self managed  cash -> BTC centers with ATM  ?
      
      People that go to ATM realize market orders, and get their BTC, 
      People that sell this BTC, realize limit orders, when sell,
      receive a message about where can go to get the fiat money.
      
      These centers are registered only in the most friendly banks
      (until we dont have created a p2p fiat courrier, and could manage
      fiat  
      directly between cities and countries.  ;-) )
      if its necessary can make wire transfers between each other
      
      Anyway this model could be 
      - at local scale (completely without banks this is our model)
      - at the regional scale (with benefits in the banks conditions for
      example SEPA)
      - At global scale (with the problem and cost related to manage
      transfer between every part of the world)
      
      Cheers,
      Enric
      
      El 13/02/14 19:51, Manfred Karrer escribió:
    
    
      I have written a concept for a P2P Fiat-Bitcoin Exchange.
I am looking for developers so if you are interested, let me know!
Otherwise any comment or review is highly appreciated!
BANK RUN! - P2P Fiat-Bitcoin Exchange
Basics:
- Pure P2P, cannot shut down by a central authority, no 3rd party involved.
- Collateral as warranty for fair behavior
- Fiat money will be transferred from one users bank account to the others bank account without any intermediary party. No identification that the money transaction is connected to a BCT trade.
- No fees beside the standard BTC transaction fees.
- Open source
Here is the paper:
https://docs.google.com/document/d/1d3EiWZdaM89-P6MVhS53unXv2-pDpSFsN3W4kCGXKgY
High-level overview of the protocol:
http://nucleo.io/bankrun/flow/bankrun.png
Bitcointalk: 
https://bitcointalk.org/index.php?topic=462236.0
Reddit: 
http://www.reddit.com/r/Bitcoin/comments/1xsona/bank_run_p2p_fiatbitcoin_exchange/
br,
Manfred
      
      
      
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