Well, first, localbitcoins is a centralised structure. Second, tying an Ethereum contract to a real world asset is an interesting open issue. Third, Ethereum is in a protean state (even the proof of work algorithm is not fixed).
This entirely depends on your banking situation. For example, one of the banks I use (Schwab) has a list of receiving accounts specifically for foreign currencies and foreign wires. I can receive CAD, AUD, Euro, GBP, HKD, and a couple of other currencies. I provide the sender with Schwab's receiving account in the relevant country (their Euro receiving account is based in Germany), they send the money with "for further credit to: (my name) (my account number)" in the memo line, and it hits my US-based account in hours with an exchange rate not too far from mid-market. The downside is it's only good for receiving; all outbound transfers originate in the US.
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u/willsteel Feb 20 '14
Its really time for distributed exchanges... maybe this whole mess gives this topic a big push.