Blockchain Could Eliminate The Need For Lawyers, Brokers, & Bankers

Think of the importance of blockchain like this: much of the world’s infrastructure consists of intermediaries – or middlemen.We’re not just talking about middlemen like businesses that take a cut of profit for selling goods or services.We’re talking about lawyers who act as an intermediary between the public and the law, or bankers who act as an intermediary between individuals and their access to creditors. There’s a possibility that lawyers, brokers, and bankers could be made obsolete by blockchain technology in the future.Instead of requiring intermediaries, blockchain technology would allow individuals, organizations, machines, and algorithms to interact freely with one another.We’re already seeing this with blockchain and bitcoin. When two individuals want to exchange bitcoin or other cryptocurrencies, they don’t go to a bank and pay a hefty transaction fee. They complete a peer-to-peer transaction over the blockchain. via /r/ico https://ift.tt/2w0onXG