How Blockchain Removes Intermediaries in Finance and Business

This is the most overhyped tech since smart refrigerators. Blockchain doesn't remove middlemen-it just moves them to Coinbase and MetaMask. You think you're free? You're just paying a different guy in crypto fees.

And don't get me started on 'stablecoins.' They're just fiat with extra steps and zero FDIC insurance. If your payroll system needs a blockchain to work, you're doing it wrong.

Actually, your entire premise is fundamentally flawed. You're conflating disintermediation with decentralization, which is a category error of the highest order. The blockchain merely redistributes trust architecture-it does not eliminate fiduciary responsibility. Custodial intermediaries still exist, merely rebranded as 'wallet providers' with KYC/AML compliance baked in. The Deloitte data you cite? Entirely cherry-picked. Most enterprise implementations require middleware gateways that reintroduce latency and cost. This is performative innovation masquerading as efficiency.

Also, 'under 15 seconds'? Please. That's only true on Layer 2 rollups, which themselves rely on centralized sequencers. You're not removing intermediaries-you're layering them. And the energy argument? PoS is not 'green.' It's just less visibly wasteful. The carbon footprint of validator infrastructure is still nontrivial.

What if the real intermediary is the belief that we need to remove intermediaries at all?

Maybe the problem isn't banks. Maybe it's the assumption that trust must be automated. What if the human layer-the negotiation, the grace, the understanding-is the real value? We're trading empathy for efficiency and calling it progress.

Blockchain doesn't solve trust. It just outsources it to code. And code can't forgive. Code can't adapt. Code can't say 'I'm sorry' when it fails.

Are we building systems for people? Or for the illusion of perfection?

I love this so much. As a freelancer, I got paid in USDC last month for the first time. No waiting. No $15 PayPal fee. Just sent it from my phone to my wallet and cashed out to my bank in 8 minutes. I cried. Not because I saved money-but because I finally felt seen. The system didn't try to take a cut. It just worked.

Thank you for writing this. It’s not magic. It’s justice.

❤️

I'm from a country where remittances cost 12% of the amount sent. My mom sends money to my sister every month. Last year, she lost $300 in fees. I showed her how to use a crypto wallet. She was scared at first. Now she does it in 2 minutes. No forms. No bank line. No 'we need your third cousin's birth certificate.'

It’s not perfect. But it’s better than what we had.

And honestly? The people who say 'it's just new middlemen' are the same ones who never had to wait 5 days for $200 to clear.

As someone who’s implemented blockchain payroll for a remote team of 14 people across 7 countries, let me tell you: the real win isn’t the fee. It’s the peace of mind.

My dev in Jakarta gets paid on time, every time. No currency conversion guesswork. No 'we’re processing your payment next week.' No 'your bank rejected it.'

And yes, we use stablecoins. And yes, we still have a bank account. But now the bank is optional. And that’s power.

Start small. Pay one contractor this way. You’ll wonder why you waited so long.

Blockchain is like the internet in 1995. Everyone’s like 'this is useless' until suddenly everyone’s using it.

My grandma doesn’t know what a smart contract is. But she knows she got her pension payment 3 days early and it didn’t cost her $50. That’s all she needs.

Stop overthinking it. Just try it. 🌱🚀

Here in Nigeria, we use crypto because banks shut accounts for no reason. Blockchain isn't a choice-it's survival. Your article is nice. But you don't live here. We don't care about 'intermediaries.' We care about getting paid.

Thank you for acknowledging that.

Blockchain is not the solution. It's the symptom.

We have broken systems. Instead of fixing them, we build new ones on top of them. We don't need more tech. We need better governance.

But hey, at least it's faster than SWIFT.

I used to think blockchain was for tech bros. Then my sister, a nurse in Chicago, got paid in USDC by a hospital that outsourced her shift scheduling. She got paid the same day. No delays. No 'we'll pay you next cycle.' She cried again. Not because she saved money-but because she felt respected.

This isn't about tech. It's about dignity.

Thank you for writing this. I shared it with my whole family.

💖

Let me be clear: this isn't about efficiency. It's about liberation.

For decades, financial institutions have treated people like transaction numbers. Blockchain doesn't just cut fees-it cuts the power dynamic. You no longer need permission to move your own money.

This is the first time in modern history that ordinary people can bypass the gatekeepers. That’s not a feature. That’s a revolution.

And yes, there are flaws. But revolutions aren’t pretty. They’re messy. And they’re necessary.

Let’s not pretend this is equitable. The average person cannot safely self-custody crypto. The average person doesn’t understand private keys. The average person gets phished within 72 hours of downloading a wallet.

So who benefits? The tech-savvy elite. The ones who can afford to lose money on bad trades. The ones who can hire auditors to monitor their on-chain activity.

This isn’t democratization. It’s a new class divide-with wallets as the new credit scores.

And don’t even get me started on the regulatory arbitrage. You’re not removing intermediaries-you’re exporting risk to jurisdictions with no consumer protections.

It’s capitalism with better branding.

Blockchain is a scam. Every single use case you listed? They could’ve been solved with better APIs, open banking standards, or even just… updating legacy systems.

But no. We need to burn down the system and rebuild it on crypto because it’s ‘cool.’

And the '200 million processed by Bitwage'? That’s less than 0.1% of global payroll. You’re celebrating a rounding error.

Wake up. This isn’t progress. It’s vaporware dressed up as liberation.

Why are people so obsessed with removing banks? Banks are the only thing keeping this system from collapsing. If you think crypto is safe, you haven’t lost money to a rug pull. You haven’t watched your life savings vanish because you clicked a link. You haven’t had to beg a support bot for 3 weeks because you sent ETH to the wrong address.

Blockchain isn’t trustless. It’s trust-ignorant.

And don’t tell me 'it’s your fault for losing your key.' It’s not my fault the system rewards recklessness.

My cousin in rural India just got his first-ever international payment via Stellar. No bank account. No ID. Just a phone and a QR code. He didn’t know what blockchain was. He just knew the money arrived before his phone died.

This isn’t about tech. It’s about access.

And if you’re still arguing about intermediaries, you’re missing the point.

Some people don’t need to be free from banks. They just need to be free from being ignored.

You said blockchain removes intermediaries. But you listed Ripple, Bitwage, Coinbase, and Circle as examples. Those are intermediaries.

So what’s the difference between a bank and a crypto exchange? Same thing. Different logo.

Stop pretending this is innovation. It’s just rebranding.

And if you think PoS is 'green,' you’ve never seen the electricity bill for a validator node farm in Texas.

This isn’t progress. It’s theater.

Let’s be real: the biggest win isn’t the fee. It’s the dignity.

My friend in Ukraine got paid in USDC after his bank froze his account. He didn’t have to beg. Didn’t have to wait. Didn’t have to explain himself.

He just got paid.

That’s worth more than any number in a spreadsheet.

It’s not about replacing banks.

It’s about giving people back their autonomy.

I’ve worked in finance for 25 years. I’ve seen every 'revolution' come and go.

SWIFT gpi. Real-time payments. Open banking APIs.

Most of them worked. But none of them changed the power structure.

Blockchain? It’s the first one that actually lets the user hold the keys.

That’s not a feature. That’s a cultural shift.

Yes, there are flaws. Yes, it’s early. But this isn’t crypto hype.

This is the quiet end of financial feudalism.

USA thinks blockchain is magic. But here in India, we know the truth: it’s just another way for rich countries to control money.

You think stablecoins help freelancers? They help Wall Street hedge funds hedge against rupee volatility.

Blockchain isn’t liberation. It’s financial colonialism with a blockchain logo.

They’re watching you. Every transaction. Every wallet. Every address.

Who owns the validator nodes? Big tech. Big finance. The same people who ran the old system.

Blockchain isn’t decentralized. It’s centralized with more layers.

And the government? They’re already building CBDCs to track every penny you spend.

This isn’t freedom.

This is surveillance with a blockchain sticker.

As a researcher in financial inclusion, I’ve studied this for a decade. The data is clear: blockchain reduces transaction costs by 40-80% in cross-border microtransactions. But more importantly, it reduces psychological friction.

People who’ve been excluded from the financial system for generations don’t care about consensus algorithms. They care about predictability. About dignity. About not being treated like a risk.

When a woman in rural Guatemala receives her first payment in under a minute, without needing a passport or a credit score-that’s not innovation.

That’s justice.

And yes, it’s messy. Yes, it’s imperfect. But it’s real.

And it’s growing.

Ignore it at your peril.

Oh please. You’re all just drunk on tech bro hype. I’ve seen this movie before. The internet. The cloud. AI. Every time, the same promise: 'This time, it’s different.'

It’s never different.

And when the bubble pops, it’s the little guy who gets crushed.

Stop romanticizing risk.