Once ripple connects with every single bank, transferring funds worldwide and fx trading will be very cheap. This will be an amazing improvement for the current banking system (and it is about time that something like that happens)..No doubt about that but that's all..
Once Bitshares has only a couple of fiat gateways and merchants worldwide accept bitassets as payments can you imagine how huge will be the implications of that in every single aspect of the financial sector?
The "that's all" part is honestly very good. I mean, people in Angola can't send money to other countries, you have to be stuck with Kwanza which is worthless. I'm pretty sure it happens in other countries. With that, everyone should be able to transfer money worldwide at least, with less restrictions. At the moment you can't even get bitcoin in Angola unless someone trades directly with you. It's crazy.
People in Greece would definitely like to have the option to transfer their euro from the Greek banks to US or UK or GE or FR banks now. Can they do that now? No.Because in order to open an international account they need at least 100,000 euro on their bank account.
Would they be able to do that with Ripple?No. Because they will still need 100,000 in their international account.
Will they be able to do that with Bitshares in the future? Hopefully yes, if everything goes as planned. Because they wouldn't need to have 100,000 on their bank account but they will be able to convert as few euros they want to biteur and make transactions in the net.
Don't you guys see the huge difference between a decentralized bank and a centralize bank and how this can change everything? Ripple, bitcoin, Goldman Sacks won't be able to even compete with Bitshares in a couple of years..