Future without Middle men big way, but big Question?

[Polo7]

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? 

[1715342238]

1715342238

[1715342238]

1715342238

[webtricks]

Your question has many flaws:

I see the World is Going to the Way that no Middle men anymore!
Like decentralized banking the New era  of living.

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.

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

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.

 

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

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.

Do you think  life without middle men Will be better? 

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. 

[mu_enrico]

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.

[dothebeats]

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.

[Quidat]

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.

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.

[CarnagexD]

Your question has many flaws

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

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.

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.

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.

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.

Do you think  life without middle men Will be better?  

[/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.

[shield132]

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.

[TinaK]

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.

[ecnalubma]

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.

[Wexnident]

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.

[Hallmader]

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.

[AliMan]

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.

[Mometaskers]

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.

[Strongkored]

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.

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

[akram143]

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.

[teosanru]

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.

[vintages]

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.

[mdgabrielzim]

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.

[adzino]

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.

[hatshepsut93]

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:

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.

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.

[1Referee]

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.

[crossabdd]

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.

[suzanne5223]

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.

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.

[Ucy]

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.

[darkangel11]

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.

[Betwrong]

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.

[mr.robot8]

i generally agree with the disappearance of intermediaries in transactions between private individuals with crypto, but perhaps for a little more security, the transformation of middle man into escrow for service payments.

[pixie85]

The banks will still be there! Don't get fooled by the fear mongers.

Sure, Bitcoin is the future but you also have countries and their fiat money held by national banks. They won't give it up and become decentralized because every government is centralized in its nature. Even if some small private banks go out of business and we have a financial revolution the national banks will become the middle men allowing people to exchange between fiat and crypto.

[hahay]

All will have many options because intermediaries in any case such as being a rule in every country and any community will at least choose the fast, best and safe way. Banks will still accept middle class people and even the less fortunate, so bankers will always work and people with different economic factors have at least their own choice.

[Febo]

If we Don't have banks anymore traditions ways then are the bankers Will be unemployed? 

Professions change all the time. Thy appear and gets abandoned. In future that will only escalate. Weren't you told this in primary school when they help you choose your profession?  Did they told you that all will last forever?

[hello_good_sir]

There's always going to be a use for middleman, and it's not just going to end up with people doing everything for themselves. Middlemen are usually used to save time, or when something you want just can't be done (eg, you want to talk to investment bankers).

We aren't going to be able to see automation of every service, although a lot of the industries you are talking about are going to die (eg, taxis).

Also, you forgot a very important middle-man. Payment processors! I don't think they will ever end up outdated, they are too crucial and some businesses don't have the time to make their own payments.

[Aaroenz0r]

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 is a good idea. For example, now, ICO projects are without middle-men and currently there are many fraudulent cases. Besides, investors in cryptocurrencies are now begging to have a middle - men but no one dares to assume this lofty obligation. I think, for a society to develop well, there should be many middle - men for businesses, it will create trust and legit for many other investors. then the money will flow more and better.

[dragon695]

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? 

In fact, having middle men is really important in this risky and risky financial market. I support intermediaries now, which both address the potential risks and create jobs for many around the world. and the existence of banks is a necessity in every country so I do not want a world too technology and modern to forget the old values. Hopefully you all will see the value of the bank and the middle men and no longer have aversion to it.

[nydiacaskey01]

If we Don't have banks anymore traditions ways then are the bankers Will be unemployed? 

Banks will never go away as they are not only for safe keeping of money, they have other services offered like insurance, investments they can also take care of a company payroll. Definitely they will not be unemployed.

Do you think  life without middle men Will be better? 

There will always be a middle men, sometimes without us knowing, we are suddenly becoming a middle men whenever we see an opportunity. Big businesses also likes to have middle men as they dont expect everyone to come in and ask for their services. They even have special prices for middle men.

[hello_good_sir]

No, I don't think that is a good idea. For example, now, ICO projects are without middle-men and currently there are many fraudulent cases. Besides, investors in cryptocurrencies are now begging to have a middle - men but no one dares to assume this lofty obligation. I think, for a society to develop well, there should be many middle - men for businesses, it will create trust and legit for many other investors. then the money will flow more and better.

Not the best comparison in my opinion, you're comparing basically high-risk crowdfunding businesses to another valid industry of middle man. And there have been IEOs that have not gone anywhere and a lot of the successful ones all have fake volumes.

I reckon we could get along our lives a lot cheaper and a lot easier without a middleman in some services, although what looks to be happening is that this middleman, is quickly becoming technology and automation, and not actual men.

[GideonGono]

If we Don't have banks anymore traditions ways then are the bankers Will be unemployed? 

Banks will never go away as they are not only for safe keeping of money, they have other services offered like insurance, investments they can also take care of a company payroll. Definitely they will not be unemployed.

In a world where money runs deep, banks had established deep roots that can't be uprooted easily and there is no need to eliminate this but rather having us more options on what monetary system would suit as by the establishment of cryptocurrencies along with the question of which is more convenient to use giving the transactions' circumstances.

Do you think  life without middle men Will be better? 

There will always be a middle men, sometimes without us knowing, we are suddenly becoming a middle men whenever we see an opportunity. Big businesses also likes to have middle men as they dont expect everyone to come in and ask for their services. They even have special prices for middle men.

Although we are saying that through Bitcoin, middlemen are eliminated but the thing is it is hard to trust someone you don't know that's why we hire escrows to serve as a middleman and I am not saying that it is a bad thing but rather it is just the way it is. The good side in cryptocurrency is that you have more freedom to do what you wish to accomplish.

[barbara44]

There is no need to worry much on middlemen or any intermediaries as technological revolution may boost some business and may eradicate some other business. This is how the entire world is working so far. Those people will switch over to new business/employment or go innovating to add new features to their existing system so that may keep their customer-base intact. But, here the most versatile thing will survive as people will choose the convenient one rather than sticking with existing with current system.

Bitcoin is here to provide a trustless payment system. It means you do not need to depend on your government for storing your hard work in terms of money as money will lose its value over the time due to inflation reasons. Bitcoin will ensure that you are not trusting anyone but yourself when you choose to invest your money into bitcoins. This does not mean banks will find its hard time to survive as most people may not trust themselves to adopt bitcoins as bitcoin is known for wildly fluctuating. Until, bitcoin finds stable prices, banks may exist hence middlemen will find some jobs to survive .

[enhu]

3rd party can still be used as middle man probably like an App somehow its been used by merchants to escrow funds. It had to be there since we all know that when BTC is sent you can not file a dispute here unlike paypal where merchants can be scammed. But still escrows can still be taken out if both parties trusts each other.

[MyIdeas]

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?  

These middle men are the same people like us they have the same minds as we and these are the people from among us so they will also join our community and they will not remain jobless. If they will lose one opportunity then they will get many other opportunities which will be far more better than the previous one.
So don't worry for the decentralized era it will make us more stronger and independent in the financial world.

[khanhht1809]

I think Many new age banks promise to provide more control to consumers. These are false promises because in most cases, banks still manage assets and customers have to trust the bank to take good care of them. They are faster and more convenient, but basically not different from the old bank. Real disruption comes only with complete loss of personal control over the property. Many developers are creating innovative financial products towards open source protocols for asset exchange through decentralized platforms. The new platforms have two major financial advantages as they exist today.
Unsurprisingly, areas like finance and cryptocurrencies, where participants must have a good level of knowledge, are not open to all large regions of the world. However, as the main role of current finance will change and blockchain-based finance will likely play a bigger role in the future of global economies. Diversity helps make decisions and we can avoid a lot of tax controversy if the current financial system is fairer and more open in the first place.

[Karmakid]

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? 

These middle men are the same people like us they have the same minds as we and these are the people from among us so they will also join our community and they will not remain jobless. If they will lose one opportunity then they will get many other opportunities which will be far more better than the previous one.
So don't worry for the decentralized era it will make us more stronger and independent in the financial world.

The decentralization that the blockchain technology has brought to us will not remove the jobs of the people in our era and it will create more jobs instead. We are now in the midst of transition towards a full technology based era and we need more people to support this transition so tech companies will hire more people and it will provide opportunities to those who are currently jobless.

[Genemind]

Things around us seek convenience and most of us will surely choose which faster and more affordable. As for me, the development and improvement of the community and society include the elimination of middlemen. We can't deny the fact that they still play a huge role in our society but if there will be better choices, I'm sure that apps or even mode of payment that provide faster transactions will surely grow better.

[el kaka22]

Do you think  life without middle men Will be better? 

Yes, with respect to my country's FMCG business structure, most of the money are going to middleman and the producers and the actual sellers are taking very less profits but the consumers are paying very big prices just due to lots of levels the middle. If the producers are directly able to sell to consumers then consumers will get products at cheaper prices and also the producers will get the maximum benefits.

At the same time we cannot ignore the need of multiple levels of middleman still I believe most of them could be eliminated from the business model. Let us come to the same kind of discussion into crypto level, I believe due to decentralization and when we are transacting without the need of bank I guess I'm going to pay same money but save more from the transaction costs as traditional banking is all about adopting negative interest rate which means their fees for every banking services will be more compared to what are paying right now.

[FLoving]

Things around us seek convenience and most of us will surely choose which faster and more affordable. As for me, the development and improvement of the community and society include the elimination of middlemen. We can't deny the fact that they still play a huge role in our society but if there will be better choices, I'm sure that apps or even mode of payment that provide faster transactions will surely grow better.

I also think that the middlemen and third paties are a hurdle in our dealings and our businesses if we will do our dealings and transactions directly it will bring much convenience in our life and in our economy. It will boost the energy of our economy and will give more strength to the financial system of our countries. It will encourage all of those who are disappointed with the current system of finance and economy.

[gentlemand]

Uber, Aribnb and so on are middle men in disguise and more insidious too. They still take your money. They want to hide behind the saps they're exploiting to provide their services when they go wrong. It's a very attractive development for existing middle men. More profit. Less liability.

Other than that most of the world does not want decentralisation or care about it. They want someone else to do the work and complain to.

[Kevondo]

Things around us seek convenience and most of us will surely choose which faster and more affordable. As for me, the development and improvement of the community and society include the elimination of middlemen. We can't deny the fact that they still play a huge role in our society but if there will be better choices, I'm sure that apps or even mode of payment that provide faster transactions will surely grow better.

With the passing time, old things are just getting replaced with the new ones and it is not bad at all. If we can ease our tasks with technology, then why wont we. Technology has not taken jobs from anyone rather it has created more opportunities in this world. Be a bitcoiner or a youtuber, you can hit huge amounts. For doing all such stuff, no hard learning skills are required. Only those survive who go with the flow.

[pawanjain]

You care about unemployment but don't care about your loved ones being in trouble because of those middle men ?
It's no rocket science that these middle men (i.e the bankers) have been troubling us since ages.
Now since there will be no middle men, these people won't be able to trouble us anymore.
You talk about life but my friend, you must look at life from a different perspective.

[Shenzou]

First of all the middle man is never gonna go away, there are many things out there that require you to use a third party, like when you pay your taxes when you pay your flight ticket or when you buy your groceries, things like those are always going to require a middle man whether directly or indirectly, and if employment is the concern here there are other things that are effecting it that we should be worried about, like robots and machines that are replacing us, the same way steam powered machines replaced humans years ago in the industrial revolution and caused millions of people to lose their jobs.

[7788bitcoin]

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....

If you are talking about bitcoin and a decentralized market then it gets rid of the banking sector if you are using it as a tender to transact globally but if you are using the banking system then there is a middle man in all of the transaction and there is no way around it. The middle man is a curse in majority of market and if we get rid of them we will have some benefits but the job market will get affected.

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? 

Sure it will create unemployment and i am not expecting the traditional banking system will get replaced anytime soon.

[AjithBtc]

With banking what we experience now will continue, just on decentralizing everything won't function eliminating the middlemen. From what Op thinks, there is no need for banks. If we say there is no middlemen on uber, airbnb then its wrong because they are the middlemen. Earlier if we want a taxi we go to the road and hire a taxi. Now if we want to hire a taxi we contact the middlemen ola or uber and further he connects us with a taxi.

[dirgayeah]

I
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? 

Middle man still has a place in this world. especially in banking sector. banking still need a broker to find the customer. and if we hope all of banking system will be decentralized is impossible. Middle man also a ppl which is want to find halal money.  as long as they are work under the rules and law

[Lorence.xD]

You care about unemployment but don't care about your loved ones being in trouble because of those middle men ?
It's no rocket science that these middle men (i.e the bankers) have been troubling us since ages.
Now since there will be no middle men, these people won't be able to trouble us anymore.
You talk about life but my friend, you must look at life from a different perspective.

Middlemen are part of each transaction; this commonly happens to the smaller business to avoid having scams and illegal transactions. They are responsible for handling both parties to secured they are safe on the business they want to do. In banking always there's a  middleman that handles the transaction of the customer and verifying the information of both parties to avoid of having misinformation. Today this happens on the small business if they want to buy something or to sell because to secured their selves and the items they have they must hire a middle man that handles both of the things they have and to assure there's no threat for them.

[Amel]

These middle men are the same people like us they have the same minds as we and these are the people from among us so they will also join our community and they will not remain jobless. If they will lose one opportunity then they will get many other opportunities which will be far more better than the previous one.
So don't worry for the decentralized era it will make us more stronger and independent in the financial world.

The decentralization that the blockchain technology has brought to us will not remove the jobs of the people in our era and it will create more jobs instead. We are now in the midst of transition towards a full technology based era and we need more people to support this transition so tech companies will hire more people and it will provide opportunities to those who are currently jobless.

And at that time the changes appear, where the jobs played by humans will be replaced by machines. But that does not mean people will be unemployed, but they will also follow these changes where they are forced to follow technological developments including their work.

If today humans work for sustainability, then humans in the future will work for innovation.

[Nolimitz84]

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.

Yeah not very much like anyone to lose their jobs,but it comes down to this scenario.Alas.Many people who perform the role of intermediaries are waiting for such a fate.

[uneng]

You care about unemployment but don't care about your loved ones being in trouble because of those middle men ?
It's no rocket science that these middle men (i.e the bankers) have been troubling us since ages.
Now since there will be no middle men, these people won't be able to trouble us anymore.
You talk about life but my friend, you must look at life from a different perspective.

Middlemen are part of each transaction; this commonly happens to the smaller business to avoid having scams and illegal transactions. They are responsible for handling both parties to secured they are safe on the business they want to do. In banking always there's a  middleman that handles the transaction of the customer and verifying the information of both parties to avoid of having misinformation. Today this happens on the small business if they want to buy something or to sell because to secured their selves and the items they have they must hire a middle man that handles both of the things they have and to assure there's no threat for them.

I think we won't get rid of middlemen because of that fact. Without middlemen we aren't safe to deal with strangers, at least paying the fee to the intermediary we have the assurance we are dealing safely without risks.
It would be amazing to have a society without middlemen for sure, but it sounds like a utopia for me. Trust levels are decreasing in the communities, even neighbors who used to be trustful before are now strangers. How to live without middlemen in a community like this? Impossible...

[ntsdm1]

Do you think  life without middle men Will be better? 

The very word,, mediator,, does not command respect.To me, a middleman is a speculator.So of course without them it will be better!

[agentx44]

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? 

I think one of the main reason why there's a mediator on every set of group or a system is to maintain balance and control. They are the one that handles the complaints and troubles being experienced but the thing is the absence of it may make things better since you will be able to confront your problem to the main source of it. Life without a middle men might make things better or may not. Without it, frauds and scams will be more vulgar more probably. If there is a middle men, there will be process which will surely avoid any unnecessary events.

[Betwrong]

Uber, Aribnb and so on are middle men in disguise and more insidious too. They still take your money. They want to hide behind the saps they're exploiting to provide their services when they go wrong. It's a very attractive development for existing middle men. More profit. Less liability.

Other than that most of the world does not want decentralisation or care about it. They want someone else to do the work and complain to.

That's right, but I think that's how it has always been. Only really independent individuals root for decentralization, but most people don't want it at all. What they want is an emperor, good or bad, doesn't matter, as long as they can blame all their problems on him. Most people find this lifestyle more desirable than one where they have to take all the responsibility for how they live.

But I believe that in the future there will be more and more open-minded and independent individuals, because it's kind of a trend nowadays to be the one.

[abhiseshakana]

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? 

In my opinion, the bank should be abolished because the principle of bank work only benefits some groups and disadvantages other groups. Take the case in my country, for example, the interest on loans for small business loans is 17.75% while the interest on corporate loans is 9.95%. A credit application must have collateral while collateral is only owned by rich people and those who can save money in the bank are usually rich people.

I feel that the role of the government is still needed in cross-border transactions as an SOP, especially when each other's parties have low levels of trust. But the role of banks can be replaced by the role of international surveyors such as SGS (General Society of Surveillance).

It will be very difficult to escape from the bank's trap if the community itself still uses bank services to save and borrow money in the bank. Credit cards (relying on bank loans) have become a trend in millennial life now. In addition, banks always innovate to be accepted in all circles and in all situations and conditions.

[dimonstration]

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.

Yeah not very much like anyone to lose their jobs,but it comes down to this scenario.Alas.Many people who perform the role of intermediaries are waiting for such a fate.

There are many opportunities they can still have even they got unemployed as the technology advances many will have chance to be their own boss on their business. Or online supports in banking etc. Middlemen may still be needed as not will be able to understand the app by themselves and there is always need supports in every application.

[cryptoknightt]

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.

he thought it was too far, I mean, how could banks be eliminated, even though crypto would be used as predicted, but at the same time exist with the banking business and not get rid of everything.




 

[Cherylstar86]

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.

he thought it was too far, I mean, how could banks be eliminated, even though crypto would be used as predicted, but at the same time exist with the banking business and not get rid of everything.
 

Both have a point but it will really matters to the users compatibility on how to deal those things comfortably. Eliminating banks is somehow impossible in which here in our country adopt the crypto currency, I mean some banks invest on it since they are accredited by our government but somehow the bank is just relying on the market and they have no control since it is still decentralized system that's really make sense.

[fiulpro]

Hey ,
What I think is middle men have dominated every sector in this whole world , actually we should understand that , they don't help them instead they actually earn a huge profit , they buy things at 1 and sell them at 100 , the person who is a actually selling doesn't even get to know what they could have earned and eventually they never get out of the poverty line and the middle men keeps earning .
A world without them would be amazing for the people who have to go through a lot and earn nothing when they should be the ones getting the profits , it would be so so beneficial for the people like farmers or even Bitcoins sellers , they won't have to pay thrice just to sell their coins .

[sana54210]

Middle man will never go away, people think it will go away but the middleman is just becoming more hidden instead of being more up front.

For example, you said Uber, now that allows people to directly contact with the driver and directly go some places etc etc but the middleman here is still uber, I know they are just taking their commission and do nothing else unlike banks but that is still a middleman. Same with all other similar concepts.

Long story short, we are not going to a system where there are no more middlemans in the world, no, we are going to a system where there are more hidden and smaller middleman that doesn't intervene that much anymore because people want to buy directly from the source and whoever makes that possible is the one that makes the most profits.

[audaciousbeing]

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? 

If you are talking about the middle-men, they are not going anywhere rather they would only change form. The Uber that you have rightly mentioned, what just happen here is Uber assuming the role of middle men by being the go-between the rider and the drivers. The same thing goes to other online businesses that works with the same model. It will even surprise you the more that the same current middle-men who have made more than a fortune in the existing business model are the investors in this new models but because companies don't go all around announcing their angel investors or the financial muscles that is making them run their business and the irony is that these investors own the business.

[Assface16678]

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? 

If you are talking about the middle-men, they are not going anywhere rather they would only change form. The Uber that you have rightly mentioned, what just happen here is Uber assuming the role of middle men by being the go-between the rider and the drivers. The same thing goes to other online businesses that works with the same model. It will even surprise you the more that the same current middle-men who have made more than a fortune in the existing business model are the investors in this new models but because companies don't go all around announcing their angel investors or the financial muscles that is making them run their business and the irony is that these investors own the business.

Some people think that middle man is just nothing for each transaction. The middle man is a person who handles both items of the traders and also secured the transaction there's no scam may happen and to be fair to both party that they will satisfy to their items or things they want without any issues, a middle man is part of every single transaction it gives a lot of security for the both users to avoid some crimes the middle manhandles the situation commonly the administrator who handles those kinds of transaction, online transaction if they want to secure the trade the website or the system holds the item(s) or the coins as a payment to the items to be fair, but always aware about the transaction you made with a middleman because not all the time those are safe, sometimes both of you are trusted on the middle man but they have an intention to do something not good, always make an awareness to yourself and to your items or money you want to exchange.

[7788bitcoin]

Middle man will never go away, people think it will go away but the middleman is just becoming more hidden instead of being more up front.

I do accept this part as you need the middle man in almost everything and if we can reduce the exploitation part then it is fine and every model has its merits and demerit.

For example, you said Uber, now that allows people to directly contact with the driver and directly go some places etc etc but the middleman here is still uber, I know they are just taking their commission and do nothing else unlike banks but that is still a middleman. Same with all other similar concepts.

The difference here with Uber and other platforms is that it gives more exposure and opportunities for the people enrolled with them while the other people who are independent will suffer and it will create a monopoly in the market as everyone will be forced to join them and there is no middle ground and i am confused with the fairness with this competitive world.

[stiffbud]

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? 

Middle men are a critical part of day to day life, even in online transactions middle men are necessary as the user don't have to trust the seller and also the seller doesn't have to trust buyer they just give their things to third party and the deal goes smoothly. I can't even imagine an era without middle men.
Many people try to avoid middle men for transactions just because it will become somewhat cheaper by directly sending to seller which I don't think is a good idea at all, as it increases the chances of a scam and online it becomes more common.

[Twentyonepaylots]

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? 

Middle men are a critical part of day to day life, even in online transactions middle men are necessary as the user don't have to trust the seller and also the seller doesn't have to trust buyer they just give their things to third party and the deal goes smoothly. I can't even imagine an era without middle men.
Many people try to avoid middle men for transactions just because it will become somewhat cheaper by directly sending to seller which I don't think is a good idea at all, as it increases the chances of a scam and online it becomes more common.

The idea having a middle men is filling the gap betweeen an end to end party. Intermediaries has a very important role in our life, in fact the simple store near your house is a business middle men or resellers.Some may find middle men an added expense, why require a middle men when you could just go directly? It does not work that way, middle men are generating from what the first end has gathered and so the other end would worry less. Also middle men can early smell the danger of scams and fraud, that's the only risk of middle men, they are fronting themselves for the other party.

I'm just very curious, what will happen to the middle men when the world already adopted the blockchain technology? They could be needed less when that happens? or the other way around?

[davinchi]

Just like the first answer to your question said - there are many flaws in you question. By the way, what makes you think that there are going to be "decentralized banks"? What does that even mean? No matter how much the world changes and if there happens to be crypto banks, that doesn't mean bankers will lose their jobs, rather they will upgrade and adapt to the new changes. There are crypto exchanges and these exchanges are being operated by human beings and not some kind of machine or whatever you think it is.

As far as I know, there will be nothing like cryptocurrency banks, but a time will come when central banks in every country will create their own cryptocurrency which are are going to be stable coins. They are not going to replace the main currencies, they will be like assets, just as Bitcoin, Ethereum and other altcoins. You can use them and if you want you can redeem them for fiat. Banks are going nowhere.

[smyslov]

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 will always middle men we cannot take that away to our society, there are fixers, and salesman and resellers, the future is evolving, but I don't think middle men will go away, it's part of our human nature to become a middleman or hire a middle for something for profit or for favor.

[Theb]

Just like the first answer to your question said - there are many flaws in you question. By the way, what makes you think that there are going to be "decentralized banks"? What does that even mean? No matter how much the world changes and if there happens to be crypto banks, that doesn't mean bankers will lose their jobs, rather they will upgrade and adapt to the new changes. There are crypto exchanges and these exchanges are being operated by human beings and not some kind of machine or whatever you think it is.

He is probably talking about our crypto wallets acting out as our banks in terms of holding our money and  handling our transactions. But the problem here is cryptocurrencies aren't a complete package compared to what traditional banks are offering. Yes we can hold our crypto and di transactions but our wallets can do just that you can't apply for loans, credit, and mutual funds like what financial institutions can do and that is where the biggest chunk of their earnings comes from. So the possibility of banks disappearing are really slim especially when people do go for banks to have loans.

[fullhdpixel]

There are still middle-men type of situations for decentralized systems and there are still ways where middle-men like airbnb or uber basically just became a simpler choice for middlemen. For example, if you have a decentralized exchange that allows people to trade wallet to wallet that means there is nothing in between, I give you ethereum to your ethereum wallet from my ethereum wallet and you give me bitcoin from your bitcoin wallet to mine without anyone else in the middle instead of exchanges where we deposit, trade and withdraw.

However, that doesn't mean that everything could be done that way, uber is middle managing the driver industry for example (mainly in USA) and there is no blockchain technology that could remove Uber for now, at least for the time being.

[carlzec]

Now everyone's mobile phone acts as a bank. Blockchain promises a new economy. Bitcoin is the most important tool. Banking may disappear in the classical sense. However, a new banking model will emerge. There may be new bankers who dominate mobile phones.

[Getmon]

Now everyone's mobile phone acts as a bank. Blockchain promises a new economy. Bitcoin is the most important tool. Banking may disappear in the classical sense. However, a new banking model will emerge. There may be new bankers who dominate mobile phones.

That is also the future I am imagining. There will not be death to banking but there will just be an evolution. By saying that cryptocurrency is giving the opportunity to every single person to be his or her own bank, that would only mean that it has to have a technology for it. And that means a smart phone or a computer with an app or software or program that would support such objective. With that, there will still be bank-like apps or software or programs that will somehow serve as the middle men.

[asus09]

Now everyone's mobile phone acts as a bank. Blockchain promises a new economy. Bitcoin is the most important tool. Banking may disappear in the classical sense. However, a new banking model will emerge. There may be new bankers who dominate mobile phones.

That is also the future I am imagining. There will not be death to banking but there will just be an evolution. By saying that cryptocurrency is giving the opportunity to every single person to be his or her own bank, that would only mean that it has to have a technology for it. And that means a smart phone or a computer with an app or software or program that would support such objective. With that, there will still be bank-like apps or software or programs that will somehow serve as the middle men.

Bank function for every one as saving money and blockchain can give more guarantee for member with their saving safety and ccan increase their money day by day, not get access and service with bank because only saving money but never giving for increase to higher value, I am waiting how come next day if blockchain adopted bank system for make many people interested with bitcoin and altcoin.

[avatar_kiyoshi]

snip

I am waiting how come next day if blockchain adopted bank system for make many people interested with bitcoin and altcoin.

Before there is a linkages between the bank and the blockchain, this process must pass through the government first. I am sure there will be more recognition about cryptocurrency from the government.

Well, a future without middle men is impossible, there will be services or companies that provide middle man services, this is a profitable business field.

[Getmon]

Now everyone's mobile phone acts as a bank. Blockchain promises a new economy. Bitcoin is the most important tool. Banking may disappear in the classical sense. However, a new banking model will emerge. There may be new bankers who dominate mobile phones.

That is also the future I am imagining. There will not be death to banking but there will just be an evolution. By saying that cryptocurrency is giving the opportunity to every single person to be his or her own bank, that would only mean that it has to have a technology for it. And that means a smart phone or a computer with an app or software or program that would support such objective. With that, there will still be bank-like apps or software or programs that will somehow serve as the middle men.

Bank function for every one as saving money and blockchain can give more guarantee for member with their saving safety and ccan increase their money day by day, not get access and service with bank because only saving money but never giving for increase to higher value, I am waiting how come next day if blockchain adopted bank system for make many people interested with bitcoin and altcoin.

Bank functions are important. That is perhaps the primary reason why even in cryptocurrency where one of the objectives is to get away from the banks there are still banks coming out, duly called or termed as crypto banks. Banks are playing an important role in human business and commerce but what is really not needed is the kind of banks we have right now. The banks developed by crypto is just a storage place without really owning what the users are storing.

[beerlover]

Banks could be both decentralized and not decentralized. It all depends on what you think a bank is and how you can name it.

For example, is blockchain.com a bank? I mean you can put your money in there and you can take your money out of there so you can store your money when you are not using it, that is one way people can use banks. But, if you need a way to spend it then there is coinsbank type of places that gives you debit cards that you can use when you have bitcoin, so you store it and you spend it, does that make them a bank?

As far as I know there is no place that gives bitcoin loans so far so is a bank still a bank without loans and interests? Basically, it all depends on your description of what a bank is, if you can flex the description a bit we do have banks in crypto world right now.

[HarmonyA]

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?  

Decentralized banking is not achievable because it's too broad. One can only decentralize a particular activity or function of the traditional banking.
Some blockchain functions are not fully decentralized. Less we do be able to call back lost transactions. In a situation where you discovered that you have sent cryptocurrency to a wrong address,  you do retrieve the transaction so far you are the one who initiated it.
So talking about decentralized banking seems deceptive or unachievable.
Getting rid of middle men will surely increase unemployment, but will it be possible to totally get rid of them? Due to the fact that blockchain Technology itself is not fully decentralized.

[Betwrong]

~
As far as I know there is no place that gives bitcoin loans so far so is a bank still a bank without loans and interests? Basically, it all depends on your description of what a bank is, if you can flex the description a bit we do have banks in crypto world right now.

There are many sites promising interests on BTC deposits, but they are mostly scams, so they don't really count. But I know at least one site, freebitco.in, which indeed pays interests on a daily basis, with the annual interest rate 4.08%. Taking into account that some banks currently have a lower rate and some others even have a negative interest rate, this site can be called a pretty good Bitcoin bank. Nevertheless, even when a site is as trustworthy as the above mentioned one, we should always keep in mind the warning by A. Antonopoulos, “Not your keys, not your coins”, and, consequently, never deposit more than we can afford to lose.

[imstillthebest]

i thought you are refering to escrows because they are also called middle men and they are verry useful when transacting  but what you got here is banks ?  are banks middle men too ? but how  ?  i thought banks are the ones that process money  . uber and mobile apps you mention are also far from the middle men that im refering with  .

 banks wont dissapear at the end  but there are bankers that quit thier  job or got fired but they can still apply for other work  .

[Arkann]

i thought you are refering to escrows because they are also called middle men and they are verry useful when transacting  but what you got here is banks ?  are banks middle men too ? but how  ?  i thought banks are the ones that process money  . uber and mobile apps you mention are also far from the middle men that im refering with  .

 banks wont dissapear at the end  but there are bankers that quit thier  job or got fired but they can still apply for other work  .

I believe that the clerks of the middle hand, and no more, are leaving the banking system as a maximum, because real bankers who know their job and have great knowledge and experience will always remain in this system and work, if not for one then for another bank  , and maybe even creating something of their own.  In any case, the banking system keeps up to date and has learned to use High Technologies for its own benefit, and thus we will not have to put an end to the future of banks.

[altcointalk14]

The removal of middlemen was the biggest cheer that crypto brought for us. If you are getting your payments through bitcoin or other crypto you will get to know who much blessing crypto is. No middle men means no additional fee and most important is you don't have to wait for days to get your payment

[jameshugo17]

Decentralized structures will now gain importance. Let me tell you about an economic model. In the past, great powers were governed by the intercontinental power. Then this great power passed to the companies. Then this great power passed to the people. Now it's going to decentralized communities. Or pass!

[dunfida]

~
As far as I know there is no place that gives bitcoin loans so far so is a bank still a bank without loans and interests? Basically, it all depends on your description of what a bank is, if you can flex the description a bit we do have banks in crypto world right now.

There are many sites promising interests on BTC deposits, but they are mostly scams, so they don't really count. But I know at least one site, freebitco.in, which indeed pays interests on a daily basis, with the annual interest rate 4.08%. Taking into account that some banks currently have a lower rate and some others even have a negative interest rate, this site can be called a pretty good Bitcoin bank. Nevertheless, even when a site is as trustworthy as the above mentioned one, we should always keep in mind the warning by A. Antonopoulos, “Not your keys, not your coins”, and, consequently, never deposit more than we can afford to lose.

Actually, why would trust up a service if we can do just simply hold of our coins in our own wallet? Come to think that 4.08% or any other interest offered can be attained as fast as we can imagine
when we do talk about Crypto movements neither with bitcoin or on top alts.So i dont really see a point on why people would have to trust up their coins to these platforms?
I would never ever consider out that option and if we do talk about security? Theres no other better things than keeping those coins in your own.

[heidikim]

Blockchain economy will expand. What happens to the banks in this case. There are two possibilities. The banks will either disappear or turn. Because the current order carries a risk of collapse. Banks see this before us and take positions accordingly.

[KnightElite]

~
As far as I know there is no place that gives bitcoin loans so far so is a bank still a bank without loans and interests? Basically, it all depends on your description of what a bank is, if you can flex the description a bit we do have banks in crypto world right now.

There are many sites promising interests on BTC deposits, but they are mostly scams, so they don't really count. But I know at least one site, freebitco.in, which indeed pays interests on a daily basis, with the annual interest rate 4.08%. Taking into account that some banks currently have a lower rate and some others even have a negative interest rate, this site can be called a pretty good Bitcoin bank. Nevertheless, even when a site is as trustworthy as the above mentioned one, we should always keep in mind the warning by A. Antonopoulos, “Not your keys, not your coins”, and, consequently, never deposit more than we can afford to lose.

Actually, why would trust up a service if we can do just simply hold of our coins in our own wallet? Come to think that 4.08% or any other interest offered can be attained as fast as we can imagine
when we do talk about Crypto movements neither with bitcoin or on top alts.So i dont really see a point on why people would have to trust up their coins to these platforms?
I would never ever consider out that option and if we do talk about security? Theres no other better things than keeping those coins in your own.

The sites the offering a lending services where if you store your bitcoins there you will gain interest but most sites like that are mostly likely scam. It is better to hold than to store your bitcoins in that kind of sites. Consider always the risks before you make a decision or a move. Think about the possibility that may happen. You should only do a decision if you think that it can benefit you in the near future. Storing your bitcoins in hardware wallet is better than investing it in online sites that offering returns because the risks are high and your bitcoins cannot be refund.

[mamahdedeh]

~
As far as I know there is no place that gives bitcoin loans so far so is a bank still a bank without loans and interests? Basically, it all depends on your description of what a bank is, if you can flex the description a bit we do have banks in crypto world right now.

There are many sites promising interests on BTC deposits, but they are mostly scams, so they don't really count. But I know at least one site, freebitco.in, which indeed pays interests on a daily basis, with the annual interest rate 4.08%. Taking into account that some banks currently have a lower rate and some others even have a negative interest rate, this site can be called a pretty good Bitcoin bank. Nevertheless, even when a site is as trustworthy as the above mentioned one, we should always keep in mind the warning by A. Antonopoulos, “Not your keys, not your coins”, and, consequently, never deposit more than we can afford to lose.

Actually, why would trust up a service if we can do just simply hold of our coins in our own wallet? Come to think that 4.08% or any other interest offered can be attained as fast as we can imagine
when we do talk about Crypto movements neither with bitcoin or on top alts.So i dont really see a point on why people would have to trust up their coins to these platforms?
I would never ever consider out that option and if we do talk about security? Theres no other better things than keeping those coins in your own.

right, our fate is what determines ourselves. keep it in a personal wallet, however safer because we ourselves manage it, as long as we are not careless I think it will remain safe. different from saving on the exchange as you mentioned, where mistakes that are not our personal, can eliminate our assets

[EdvinZ]

Blockchain economy will expand. What happens to the banks in this case. There are two possibilities. The banks will either disappear or turn. Because the current order carries a risk of collapse. Banks see this before us and take positions accordingly.

The blockchain economy will really expand and this applies not only to the financial sector. Blockchain has the potential for application in completely different areas. As for banks, they just adjust to the trends of the time and will do everything possible to retain clients.

[Sahyadri]

This is just like debating whether AI will take away jobs? The thing is that there will be disruption for sure. People will lose job but new jobs will be created as well. It is just that you need to hone your skills accordingly. If you look into job descriptions of many companies for various different profiles, blockchain knowledge is becoming an essential requirement.

So yeah, there will be a job loss which could be at massive scale, but simultaneously more different jobs will be created in one way or other.

[sovie]

This is just like debating whether AI will take away jobs? The thing is that there will be disruption for sure. People will lose job but new jobs will be created as well. It is just that you need to hone your skills accordingly. If you look into job descriptions of many companies for various different profiles, blockchain knowledge is becoming an essential requirement.

So yeah, there will be a job loss which could be at massive scale, but simultaneously more different jobs will be created in one way or other.

I think its too early to say and think that crypto will take over all financial institutes of the world and there will no middlemen. Middlemen will be there but it will be transformed into something else. If you are a freelancer you can understand the importance of middlemen (upwork, fiverr) who take care of both buyer/seller interest.

[clickerz]

Blockchain economy will expand. What happens to the banks in this case. There are two possibilities. The banks will either disappear or turn. Because the current order carries a risk of collapse. Banks see this before us and take positions accordingly.

Its either you have to join and embrace the system or ceased to exists. I think banks should adopt or utilized the system and I think it is even starting now as other banks are allowed to have or develop their own cryptocurrency. The concept of being decentralized is indeed against the government and banks as no one controls it.

[awik p]

This is just like debating whether AI will take away jobs? The thing is that there will be disruption for sure. People will lose job but new jobs will be created as well. It is just that you need to hone your skills accordingly. If you look into job descriptions of many companies for various different profiles, blockchain knowledge is becoming an essential requirement.

So yeah, there will be a job loss which could be at massive scale, but simultaneously more different jobs will be created in one way or other.

I think its too early to say and think that crypto will take over all financial institutes of the world and there will no middlemen. Middlemen will be there but it will be transformed into something else. If you are a freelancer you can understand the importance of middlemen (upwork, fiverr) who take care of both buyer/seller interest.

we must remember that we live as a state, and our freedom is freedom governed by the state. therefore of course the country cannot yet decide to lose control of the financial system, and I think cryptocurrency is still long to replace the current fiat currency payment system

[Pamadar]

Blockchain economy will expand. What happens to the banks in this case. There are two possibilities. The banks will either disappear or turn. Because the current order carries a risk of collapse. Banks see this before us and take positions accordingly.

The blockchain economy will really expand and this applies not only to the financial sector. Blockchain has the potential for application in completely different areas. As for banks, they just adjust to the trends of the time and will do everything possible to retain clients.

The banks have a huge money to use if in case they've needed to adjust and switch over this new technology. As we all knew how wise this big players and how they will be able to manage each situations that will test their business. We never know if they already behind this new system and they are just working behind to make sure the safety of their investment. Bankers looks more advance than ordinary people, the assurance that they will find ways to continue benefiting is always possible.

[AniviaBtc]

i thought you are refering to escrows because they are also called middle men and they are verry useful when transacting  but what you got here is banks ?  are banks middle men too ? but how  ?  i thought banks are the ones that process money  . uber and mobile apps you mention are also far from the middle men that im refering with  .

 banks wont dissapear at the end  but there are bankers that quit thier  job or got fired but they can still apply for other work  .

I believe that the clerks of the middle hand, and no more, are leaving the banking system as a maximum, because real bankers who know their job and have great knowledge and experience will always remain in this system and work, if not for one then for another bank  , and maybe even creating something of their own.  In any case, the banking system keeps up to date and has learned to use High Technologies for its own benefit, and thus we will not have to put an end to the future of banks.

Middle hand are the one who process our need in the bank, why will you let them loss their job? They are needed in every banks, no matter what kind of bank is that. But nowadays, the banks are just using our Technology to give services to their customers because they want high quality service for them to gave satisfaction to the customers. But let's hope for the future banks to improve their own.

[CarnagexD]

Blockchain economy will expand. What happens to the banks in this case. There are two possibilities. The banks will either disappear or turn. Because the current order carries a risk of collapse. Banks see this before us and take positions accordingly.

Its either you have to join and embrace the system or ceased to exists. I think banks should adopt or utilized the system and I think it is even starting now as other banks are allowed to have or develop their own cryptocurrency.

Banks now are very selective on what they are going to adopt aside from most popular ones, and if they'll find it will be a stable one for sure. It's good to see how the bigger banks are initiating to utilize the revolutionary currency giving more freedom to people.

The concept of being decentralized is indeed against the government and banks as no one controls it.

Frankly speaking the government does not want it, until they noticed how it changes people with using the crypto compare to fiat now they are claiming it. But it would really be bad if decentralization takes over the people, there would be a chaos in the market and small people will lose it.

[blckhawk]

It is not impossible to eliminate middlemen in transactions, though it would be difficult, or rather still ages from now, when an era that everything is almost digitalized. And yes, it does make more people unemployed, since traditional banking systems are requiring more manpower than running the blockchain alone.

And thus, without that manpower, transaction fees are cut significantly lower, which is one of the advantages of cryptocurrencies over banks.

[abhiseshakana]

It is not impossible to eliminate middlemen in transactions, though it would be difficult, or rather still ages from now, when an era that everything is almost digitalized. And yes, it does make more people unemployed, since traditional banking systems are requiring more manpower than running the blockchain alone.

And thus, without that manpower, transaction fees are cut significantly lower, which is one of the advantages of cryptocurrencies over banks.

The role of banks as collectors and distributors of public funds may be replaced by the blockchain system, but banks have supporting services as part of services that not all can be replaced by blockchain. Banking institutions are synonymous with saving and credit applications. Credit provided by banks is a magnet that can hardly be refused by everyone both for consumption and for business. In addition, banks are also considered as the safest institutions to save money because they provide guarantees of repayment in the event of a malfunction in the bank system or human error from bank officers.

To carry out the function of raising funds the bank has several sources which are broadly divided into three sources namely;
- funds sourced from the bank itself in the form of a capital deposit at the time of establishment.
- funds originating from the wider community that are collected through banking businesses such as the business of demand deposits, deposits, and savings.
- Funds sourced from Financial Institutions obtained from loan funds in the form of Liquidity Credit and Call Money (funds that can be withdrawn at any time by the borrowing bank) and meet the requirements

We can make the role of banks minimal or disappear if we eliminate our dependence on banks. By starting, do not save our money in the bank and do not apply for credit to banks that work with the interest system.

[Harriti]

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? 

At the moment, I don't feel any better without middle men. because there are so many scammers out there and we always need middle men to make personal transactions. I know you're talking about a modern world and people can directly connect more easily with many target partners without middle men, but that will never exist. Our society is replacing with modern technology, now we don't have many middle men but there will be many middle services.

[Betwrong]

~
As far as I know there is no place that gives bitcoin loans so far so is a bank still a bank without loans and interests? Basically, it all depends on your description of what a bank is, if you can flex the description a bit we do have banks in crypto world right now.

There are many sites promising interests on BTC deposits, but they are mostly scams, so they don't really count. But I know at least one site, freebitco.in, which indeed pays interests on a daily basis, with the annual interest rate 4.08%. Taking into account that some banks currently have a lower rate and some others even have a negative interest rate, this site can be called a pretty good Bitcoin bank. Nevertheless, even when a site is as trustworthy as the above mentioned one, we should always keep in mind the warning by A. Antonopoulos, “Not your keys, not your coins”, and, consequently, never deposit more than we can afford to lose.

Actually, why would trust up a service if we can do just simply hold of our coins in our own wallet? Come to think that 4.08% or any other interest offered can be attained as fast as we can imagine
when we do talk about Crypto movements neither with bitcoin or on top alts.So i dont really see a point on why people would have to trust up their coins to these platforms?
I would never ever consider out that option and if we do talk about security? Theres no other better things than keeping those coins in your own.

The sites the offering a lending services where if you store your bitcoins there you will gain interest but most sites like that are mostly likely scam. It is better to hold than to store your bitcoins in that kind of sites. Consider always the risks before you make a decision or a move. Think about the possibility that may happen. You should only do a decision if you think that it can benefit you in the near future. Storing your bitcoins in hardware wallet is better than investing it in online sites that offering returns because the risks are high and your bitcoins cannot be refund.

Considering that more than 90% of the sites which offer you interest on your BTC are scammers, I think for most people it would be better to take your advice. And for those who know what they are doing, for the minority who store their coins on a reputable site, it is still advisable to not store significant amounts anywhere except your own wallet.

[HarmonyA]

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? 

Banks are not the only mediators in financial transactions. Decentralization doesn't totally take away middle men, rather it reduces their chances of interfering in every transaction,  and as well reduce their charges.
Decentralized banking will make computer networks your mediators and the transactions won't be reversible,  and in place of an error, there will be no one to blame except yourself (the transaction initiator).

[outatime1]

Businesses will need to evolve just like they always have.  Some types of business will have to change and others will become obsolete like the typewriter or pager.

[BChydro]

Considering that more than 90% of the sites which offer you interest on your BTC are scammers, I think for most people it would be better to take your advice. And for those who know what they are doing, for the minority who store their coins on a reputable site, it is still advisable to not store significant amounts anywhere except your own wallet.

The companies that can really provide an interest are loan based companies and the rest are just like gambling, we have no transparency on how they are using the funds and hence you cannot trust anyone who is offering you an interest. Staking in gambling sites does have the risk and so is the case with exchanges and hence it is better to keep them with you rather than taking chances unless there is a regulated company who have insurance for the funds deposited.