You can send directly from one party to another. The financial institution part is still optional.
Nobody is really using it as a currency when having any amount change hands costs on average a fancy coffee drink from a fast food joint.
so you can see i'm not making shit up https://live.blockcypher.com/btc/tx/8b420f5e6548865535381fdb...
That's a 2sat/byte transaction... come on man! this is amazing for shop owners.
wait until lightning network and its INSTANT.