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? 

[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.