Topic: Future without Middle men big way, but big Question? - page 6. (Read 1308 times)

Perfect example of the question " why do we need a middle-man?", Uber acts a middle man between the user and their drivers, providing safety and insurance of you getting to your destination but middle-man services is not free as they are paying taxes under regulatory boards. Actually the example you have given can answers all of your question, really, if you would just think of it more.

I think bankers can be consider as a middle-man too coz people will go to them if in case they need to store their valuable asset in the bank and they are getting paid for that. And bank is both middle-man and the other end. What is your point of bankers are not born bankers, We are born with actually nothing on us, I don't really get it.


[/quote] Middle-man might need you for the other, and middle-man might need others for you. It is actually a give and take situation with a middle-man that has a cut on every transaction, but middle-man is not not needed for the basic actions.

Same answers and points in regards to this.It really wrong to think that banks would go obsolete yet we do like it or not these institutions does really play a big
role when it comes to economy aspects and other service which crypto cant do such thing.So its wrong to have these perception because it wont surely happen
as long government is here, banks would remain and crypto would just be an option.Decentralization is good but we cant just live solely with it.

Intermediaries and middlemen add up to the delay and cost of doing some things which can easily be done directly towards the two concerned parties. This is where services like Western Union and other money remittance centers get their profit from. It's a given fact that they provide comfort, security and efficiency by being middlemen, but with bitcoin and cryptocurrencies, money remittance would be easier, and will not require you to go on a queue and let the receiving party wait for a few hours to receive the money.

Banks would never be obsolete, as they provide liquid funds to those who wishes to do business with them. Bitcoin and cryptocurrencies can't do that.

Banks have many functions, facilitating transfers only a small part of it. Maybe what you mean by the middlemen is the "payment processor." In this case, the removal of intermediaries is good since they only add more cost.

Let's assume there is no need for payment processor because of cryptocurrencies, well, they will go bankrupt and find another industry. Every time businesses go bankrupt; multiple new startups will emerge. No worries.

However, intermediaries are not all bad, depend on the case. Reputable car salesman, for example, will reduce moral hazard.

Your question has many flaws:


Decentralized banking is misleading term. There is no concept like decentralized banking. The closest substitute to this term is cryptocurrencies and few dapps providing online credit facilities. But since value of cryptocurrencies is highly dynamic, this model is not sustainable. In short, banks are not going anywhere.


You gave the example of Uber. But tell me how Uber solves the problem of middle-man? On the contrary, I would say Uber act as a middle-man by bridging gap between customers and cab-providers. Uber receives payment from customer, keeps its cut and gives rest to cab-provider. This is classic example of how middle-man works. You gave entirely wrong example in the situation.

 

Bankers are not middle-man. Bank is middle-man which acts as a medium between those who have extra money and those in need of money. Bankers are mere agents of banking system. Bankers are not born bankers, they appear for test and pass requisite training to become banker. In short we can say being banker is a profession. If banks vanish (which is highly unlikable), bankers' profession will end too. But that doesn't mean bankers will go unemployed. Banking companies will evolve themselves into something else, banker's job will also evolve into something else.


Very subjective question. Answer differs from case-to-case basis. There are areas where middle-men are necessity while there are areas where removing middle-men will bring more comfort. 

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?