I am not too certain that i will call the existing banking industry an oligopoly. Most developed countries and even larger developing countries have enough banks, in fact I believe the system is overbanked. The problem is competing for bigger fish and ignoring the plankton, somewhat like steemit. Then, the models to determine risk are the same, and with changing income sources, technology, banks haven't updated their risk models to actually pass on cost reductions to consumers. Banks as business do one thing - move money from party 1 to party 2 and take a cut. The bigger the pie, the bigger the cut. For a smaller pie, increase the size of the cut. The smaller guys are the ones who get ripped off and frankly, were powerless, until bitcoin came into existence.

From the looks of it, it seems DCC is moving in the right direction. However, to provide cross border financing, the problem is loan recovery and dealing with local regulation. Crypto financing companies, smart contracts and unified banking recovery process and regulation are also needed as tailwinds for DCC to succeed in its mission of making small and large banks equal. Otherwise, the idea is right. Small banks need a platform like DCC.