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Blockchain replacing current middlemen with those who are simply willing to accept lower returns?

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Blockchain replacing current middlemen with those who are simply willing to accept lower returns?

Post by Sumant sinha on Sat Apr 15, 2017 2:57 pm

Hey, I am Sumant, blockchain enthusiast, wanted to know your views on how blockchain will eradicate the middlemen from our financial sector.

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Re: Blockchain replacing current middlemen with those who are simply willing to accept lower returns?

Post by John Nash on Sat Apr 15, 2017 11:15 pm

Well, the concept of blockchain is based on the shared ledger. This eliminates the basic need for the centralized authority to verify something, this is reached in blockchain using consensus. This also removes the problem of middlemen, which are like a plague for our current financial sector. For example, if blockchain is applied in a supply chain, then anyone can see if the product is original and what is its initial value, where it had been, and if there were any unnecessary demands due to middlemen. Blockchain can help a country to double its GDP within a short period of time.

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