Gaur 2016 (†772)Gaur, Nitin. "Blockchain: A Platform for Disintermedation" (Information Forecast, 2016).
- blockchain : [Blockchain is] a cryptographic database technology that is known to the masses through its association with cybercurrency (bitcoins, altcoins). In fact, the technology itself, when disassociated with currency, has the promise to change the world (once again) as we know it. Blockchain technology has the power to provide a platform to remove middlemen, regardless of the industry, and it does not end there. There are real business models emerging that are backed by this technology. Those business models, based on such concepts as cyber trust, cyber equity, interledger, and cyber identity, all reflect the aim to establish networking that is trustless and yet secure (†1949)
- blockchain : Blockchain promises systemic security as a trust currency. Economic transactions on a distributed ledger can be programmed to record virtually anything of value: your identity, a will, a deed, a title, a license, intellectual property, and also almost any type of financial instrument. (†1951)
- disintermediation : Disintermediation is defined as reduction in the use of intermediaries between producers and consumers, for example by investing directly in the securities market rather than through a bank. Historically, in the case of the financial industry, every transaction has required a counterparty in order to process the transaction. By definition, disintermediation goes hand in hand with disruption; after all, we are removing the middlemen and changing (in some cases, radically) the business model and incentive economies pegged to mediation. (†1950)