Future without Middle men big way, but big Question? - page 5.

Betwrong

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Quote from: Polo7 on November 28, 2019, 11:41:37 AM

I see the World is Going to the Way that no Middle men anymore!

Like decentralized banking the New era of living.

Like uber and Even mobile apps where u can hire someone for the Job or u can get job anytime When u Want....

But the question is :

What about Middle - men?
If we Don't have banks anymore traditions ways then are the bankers Will be unemployed?

Do you think life without middle men Will be better?

No, I don't think that life without middle men would be better because it's hard to produce things and to sell them at the same time. Some firms are successfully doing just that, but most of them need middle men, that's how things have been going for millennia. But do we need banks, that's a question. I think many bad things in economy happen exactly because of banks nowadays, so maybe those institutions should be replaced by something else. Without banks, it would be a completely different economic system than what we have now, and, surely, the transition wouldn't be easy, but we are so fed up with banks that maybe this idea worth consideration.

darkangel11

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Quote from: Polo7 on November 28, 2019, 11:41:37 AM

What about Middle - men?
If we Don't have banks anymore traditions ways then are the bankers Will be unemployed?

Are you worried about bankers? This line of work was their own choice.

What about all the other jobs that have disappeared over time? There's less and less blacksmiths, but should we be worried. Telegraph workers have also disappeared when telephone was invented.

The good thing about bankers is that they are fit for most jobs within the sector. They can do statistics, work as accountants, look for jobs in the IRS, and if all fails, start their own companies, maybe move to crypto and offer loans here.

Would they cry for you if you lost your job? I don't think so.

Ucy

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I guess lack of middle men is one of the reasons transactions are cheaper in Crypto world.
What use are the middle men in your transportation of your customers phone from point A to B when you can use a small drone quickly, efficiently ,cheaply and easily? The quicker mode of transportation or the use of cheaper transactions will benefit the economy aswell. The middle men will also benefit from quicker, cheaper and efficient ways of making things. The long-term benefits of all these is what am not sure of.

suzanne5223

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Quote from: Polo7 on November 28, 2019, 11:41:37 AM

I see the World is Going to the Way that no Middle men anymore!

Like decentralized banking the New era of living.

Like uber and Even mobile apps where u can hire someone for the Job or u can get job anytime When u Want....

But the question is :

What about Middle - men?
If we Don't have banks anymore traditions ways then are the bankers Will be unemployed?

Crypto currency and others block chain project are not created to eradicate traditional banks but as an alternatives, this is the reason why IMF Boss advised the government to think of creating other own national currency so the occasion where they will obsolete won't happen. However, we can't consider about the present much if we want to advance to the future.

Quote from: Polo7 on November 28, 2019, 11:41:37 AM

Do you think life without middle men Will be better?

Life without middle will be better because the middle have took a lot of people for granted by stealing from people's account through unnecessary charges.

crossabdd

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there are two choices. if you choose with the middle man, you will be left behind with an increasingly advanced world. because more and more days, speed in action is needed. middle people in banking are need time in the transaction process. while in the blockchain world, you are only a few seconds and it has already been verified. then, what about the middle man? I think they will also get other jobs.

1Referee

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Quote from: mdgabrielzim on November 29, 2019, 04:34:32 PM

It is an evil that is necessary. Just as many country men have lost their jobs, so many bankers will also lose their jobs someday.

Exchanges are the new financial institutions, but people don't yet consider them to be that. They aren't very far away from offering the same services as legacy financial institutions, but with a different flavor, one that will appeal to more people potentially.

All the people in crypto saying that banks are bad and should disappear, need to look in the mirror and ask themselves why they still allow exchanges to hold their coins. It's pretty much the same principle; you trust a third party to hold your money for you. In this case it's even worse because I trust my bank more than the most regulated crypto exchange.

I do not fear for the money in my bank account, but I constantly fear for the money at my exchange, no matter how insignificant the amount actually is.

hatshepsut93

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The premise of your question is flawed, as we are not really moving towards the world without middlemen, and some would even argue that there's increasing amount of middlemen with all these new tech companies. However, if we ignore this flaw, the answer to your question is quite simple:

Quote from: Polo7 on November 28, 2019, 11:41:37 AM

But the question is :

What about Middle - men?
If we Don't have banks anymore traditions ways then are the bankers Will be unemployed?

It will be just like with any other profession that gets replaced by automation, the people will have to find some other jobs.

Quote from: Polo7 on November 28, 2019, 11:41:37 AM

Do you think life without middle men Will be better?

It's impossible to remove all middlemen, Bitcoin is decentralized because it's governed by code, but code can't govern everything.

adzino

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Quote from: Polo7 on November 28, 2019, 11:41:37 AM

I see the World is Going to the Way that no Middle men anymore!

Like decentralized banking the New era of living.

Like uber and Even mobile apps where u can hire someone for the Job or u can get job anytime When u Want....

But the question is :

What about Middle - men?
If we Don't have banks anymore traditions ways then are the bankers Will be unemployed?

Do you think life without middle men Will be better?

Care to elaborate what do you mean by "banking" over here? "Decentralized banking" is never possible. If banks are involved, centralization is inevitable. Banks itself are centralized institution, thus any kind of crypto transaction taking through a bank will automatically become centralized.
Yeah, if banks don't exist anymore, the bankers will be unemployed temporarily. They will eventually move on and find a new job suitable for them.
Life without middle man will be good for certain things and bad for other things. We can't totally deny the importance of a middle man.

mdgabrielzim

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It is an evil that is necessary. Just as many country men have lost their jobs, so many bankers will also lose their jobs someday.

vintages

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Simple answer to you question is that the bank will never cease to exit, it is meant to be and will always be with us even at the era of digital currency.
Let us eliminate the thought that the banking industry will go into extinction because digital currency becomes a thing. What we should be hoping for is that the banking industry and cryptocurrency works in hand, together. Hopefully the middle men then won't lose their jobs.

teosanru

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Quote from: Polo7 on November 28, 2019, 11:41:37 AM

I see the World is Going to the Way that no Middle men anymore!

Like decentralized banking the New era of living.

Like uber and Even mobile apps where u can hire someone for the Job or u can get job anytime When u Want....

But the question is :

What about Middle - men?
If we Don't have banks anymore traditions ways then are the bankers Will be unemployed?

Do you think life without middle men Will be better?

Truth is middleman won't really be eliminated completely from the system banks would still perform slightly different types of functions such as those performed by merchant bankers. Obviously there would be a certain increase in unemployment in banking sector but the same would be compensated with an increase in the UT/ blockchain sector. This is how technology has always been. It has been ruthless to those who are stagnant and orthodox to change.

akram143

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Middle men makes any thing as more expensive from the actual cost so if we skip them the end user can get more benefits.Of course bankers will lose job but they can find any job if they have skills we don't have to feed them with our hard earned money.

Strongkored

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You asking about middle man but give wrong example like Uber. Bank also isn't a middle man as my knowledge middle man is a person act like mediator to make the transaction safer (when dealing with transactions). Middle man needed to secure the transaction whereas banks are only the type or payment method (besides many other features that are in the bank) used in a transaction, which is why many are also deceived when using banks as a payment method without a middle man.

Quote

1. a person who plays an economic role intermediate between producer and retailer or consumer.

2. a person who acts as an intermediary.

Source: https://www.dictionary.com/browse/middlemen

Mometaskers

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Quote from: Polo7 on November 28, 2019, 11:41:37 AM

Like uber and Even mobile apps where u can hire someone for the Job or u can get job anytime When u Want....

Uber is a middle-man. I actually hear a lot of complaints about them making it hard for car owners to get insurance for damages done by customers to their car, etc. I don't think we'll get rid of middlemen soon in certain industries.

With bitcoins there is a possibility but likely we'd still end up with some sort of middle-man. As for bank, they'll survive this wave of decentralization you are thinking about. They'll switch to using blockchain for ease of operation (and a digital fiat if the state comes out with one) but they'd still be centralized private companies. They after all, use whatever fiat the government have.

AliMan

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Vave.com - Crypto Casino

Quote from: ecnalubma on November 28, 2019, 08:09:31 PM

Banks will never become decentralised, they are what they are and they will only evolve from time to time by adopting the new technologies. Middlemens will still exist in my opinion but will slowly reduce if major companies begin to turn decentralised.

That's possible when they're adopting to another ventures of a technology, there's another way implementing crypto decentralization. Fiat banks will always be focused on paper money storage, unless they'll be accepting digital currency or crypto deposits from their clients. On that ideas, the decentralized and centralized currency will be more efficient in terms of compatibility. People will have the options, they can choose to have digital or fiat spending needs.

Hallmader

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I have considerable doubts about a world that is without middle men. Middle men came into the business because they are needed. Of course, there were instances in the daily business of men where they are not really necessary but I don't think we can just erase them totally. The business of buy and sell for example will always need middle men. The business of independent distributors, franchisee, financiers, and so on are within the definition of middle men.

Wexnident

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I don't request loans~

Banks would never agree to being one of the decentralized systems. This requires a community to manage it aka freedom from government control or company control,which I doubt the company or the government would be willing to let go. Plus, there are the existence of exchanges here and there, which is pretty much a substitute for what banks do at this point.

Not that I'm actually being glad for the possibility of them having no work, but isn't the purpose of improvement and innovation to let mankind have all the freetime they could get? Well, them being freed from bank responsibilities could mean more man power towards other projects and companies that need them.

ecnalubma

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Banks will never become decentralised, they are what they are and they will only evolve from time to time by adopting the new technologies. Middlemens will still exist in my opinion but will slowly reduce if major companies begin to turn decentralised.

TinaK

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Quote from: Polo7 on November 28, 2019, 11:41:37 AM

I see the World is Going to the Way that no Middle men anymore!

Like decentralized banking the New era of living.

Like uber and Even mobile apps where u can hire someone for the Job or u can get job anytime When u Want....

But the question is :

What about Middle - men?
If we Don't have banks anymore traditions ways then are the bankers Will be unemployed?

Do you think life without middle men Will be better?

You mean the scammers who are all spreading through out the globe and working for banks right?
Obviously they should leave the job look for the loyal job which is not scamming the users whoever putting their hard earned money.
This banks stealing some good part of money in the name of fees alone they we paying service tax also for them but as the end user we will get shit only nothing.

shield132

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Quote from: Polo7 on November 28, 2019, 11:41:37 AM

I see the World is Going to the Way that no Middle men anymore!

Like decentralized banking the New era of living.

Like uber and Even mobile apps where u can hire someone for the Job or u can get job anytime When u Want....

But the question is :

What about Middle - men?
If we Don't have banks anymore traditions ways then are the bankers Will be unemployed?

Do you think life without middle men Will be better?

There is no way to run any service without any kind of middleman because otherwise such service will turn into chaos and everything will ruin cause people will ruin trust.
Uber, Ebay, Fiverr and similar services, providers are themselves middlemen and charge fees from it.
And what do you mean by not having banks? At first I highly doubt that will happen in near future, banking system is hard to destroy and that can't/won't happen easily cause there are bunch of serious people behind it. And also from where will you get loan if there are no banks? From neighbor? I highly doubt you can get business loan from such connections.
And life without middleman seems impossible and in this case, yeah, middleman is government, justice, Federal Bank and etc.

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