If I want to pay someone in Indonesia the equivalent of 100 USD, this needs to happen:
a) sell a suitable amount of bitcoin on the local bourse
b) redraw the local fiat to my local bank
c) order a wire transfer in my local bank
d) the local bank needs to order that in one of my country's internationally connected banks.
e) the sum is converted to dollars
f) that bank must order a wire from its account in an international bank like deutche bank
g) the wire arrives in an internationally connected bank's foreign bank account
h) the sum is converted to rupiah
i) the sum is moved from the local banks account in the big Indonesian bank
j) the sum is moved to the customers account
k) the customer must send the fiat to his local exchange
l) the customer must sell his fiat on the exchange
m) the customer must retrieve his bitcoins
So may smart people here, could this procedure be streamlined?
a) sell a suitable amount of bitcoin on the local bourse
b) redraw the local fiat to my local bank
c) order a wire transfer in my local bank
d) the local bank needs to order that in one of my country's internationally connected banks.
e) the sum is converted to dollars
f) that bank must order a wire from its account in an international bank like deutche bank
g) the wire arrives in an internationally connected bank's foreign bank account
h) the sum is converted to rupiah
i) the sum is moved from the local banks account in the big Indonesian bank
j) the sum is moved to the customers account
k) the customer must send the fiat to his local exchange
l) the customer must sell his fiat on the exchange
m) the customer must retrieve his bitcoins
So may smart people here, could this procedure be streamlined?
Could you not
a) Invite person in Indonesia to set up a BTC wallet, and an account with BTC exchange
b) Send them $100 worth of BTC
c) Person either holds or sells BTC
or
a) Invite person to set up a BTC wallet
b) Send $100 worth of BTC
c) Person sells BTC to a local otc exchange
of course these both have the risk of price fluctuation risks for the time that the receiver holds the coins and any exchange fees, but both do allow you to transfer equivalent of $100 USD.
(In your scenario, you start off owning Bitcoins and end up with the customer buying bitcoins , so therefore to get the same result as your scenario, why go through the bank at all?, just two steps needed to do the same thing, just a) Get customers BTC address, and b) send BTC- which really is just one step i.e a) send BTC to customers address)