‘Cutting out the middle-men’
That has been the theme for the majority of technology startups. Reasoning being, middle-men drive the prices higher by charging for the provider and the consumer.
But why have we allowed them to flourish in the first place? Some important reasons are::
A middleman curates on the behalf of a consumer
A middleman finds markets for the producers/service providers
They represent trust between two parties
Thus trying to cut the middle-men or intermediaries isn’t the solution. And one of the most beautiful aspects of blockchain technology is,
It enables the middle-men, (genuine ones). By rewarding them for :
- Approving transactions, providing computing power (Bitcoin)
- Curating content (Steem)
- Curating market signals (CoinFi)](https://sale.coinfi.com/#token)
- Generating quality maps data while you travel (Lazooz)
- Letting others use disk space (Siacoin)
- Letting others use rooftops for landing drones (Aerotoken)
- Point customers to right real estate (REX)
- Lending money to peers (SALT lending)
- Renting WiFi, clothes, furniture (Slock)
10.Letting them manage investment on their behalf (Tokenfund)
And many more.
Blockchain technology is a step further to Amazon, Facebook, Uber, AirBnb, Netflix, kickstarter, and other tech solutions. These solutions helped people adopt the technology, conduct transactions over the internet. Although rewards in such cases, go a centralized organization.
Blockchain, combined with automation and machine learning will democratize the rewards of these transactions. As Bane declares, “We give it back to you. The People”
Cheers, Kartik
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Thank you SteemitBoard :)
Looking forward to post more.
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Nice Article
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Thank you :)
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