The problem that international fund transfers require currency brokerage is not solved by introducing another currency.
Why do you need to convert currency when transferring to someone in another country in the first place? Because the banking infrastructure in that country is denominated in their currency. Because their bank account only permits them to hold balances in that currency. And because only funds in that currency are guaranteed by the banking laws in that country.
If it weren’t for that, currency conversions could be ignored! If everyone in the world had bank accounts that could handle euros, say, you could transfer funds globally; people could make purchases by transferring euros, etc etc.
In fact there’s not a lot stopping you from doing that. You can have an account denominated in whatever currency you like. Provided you don’t care about things like deposit protection.
And that’s all Bitcoin and other crypto really add to the mix - a uniformly available currency for denominating non-deposit-protected balances.
Why do you need to convert currency when transferring to someone in another country in the first place? Because the banking infrastructure in that country is denominated in their currency. Because their bank account only permits them to hold balances in that currency. And because only funds in that currency are guaranteed by the banking laws in that country.
If it weren’t for that, currency conversions could be ignored! If everyone in the world had bank accounts that could handle euros, say, you could transfer funds globally; people could make purchases by transferring euros, etc etc.
In fact there’s not a lot stopping you from doing that. You can have an account denominated in whatever currency you like. Provided you don’t care about things like deposit protection.
And that’s all Bitcoin and other crypto really add to the mix - a uniformly available currency for denominating non-deposit-protected balances.