Does it mean that even if it goes through the VISA network. Actual settlements still have to hop through layers of peering banks?
Do you see an advantage for bitcoin then by removing the need of peering banks?
Do you see an advantage for bitcoin then by removing the need of peering banks?
What isn't obvious to me is what happens in international scenarios - you ask a great question.
[EDIT] - Actually - here's your answer.... See section 2.3.3 of this doc: http://www.bis.org/publ/cpss53p16.pdf