Feature Writing anything about Bitcoin or blockchains is a challenge. It’s not the easiest technology to understand – not because it’s particularly complex, but because it’s grown into something of a confused mess of different technologies and applications. It also “looks” strange compared to most technologies that we’re used to.
Plus, it tends to be quite emotive because although it’s all open source and open standards, it’s all about “money,” and that gets everyone excited.
Stuck in the middle
The point of the blockchain is that it looks to “disintermediate trust.” Whilst “disintermediation” might be a term you’d be keen to see on a game of Hipster Bingo, we’ve all been desperately in love with disintermediation since the internet became a big deal because at its core, disintermediation is what the internet “does.”
Disintermediation is about removing intermediaries, and we generally like to remove middlemen because although they provide value, they also take our money for their profit. Take the intermediary out of a system, and others in the chain have a little bit more money.
The internet is the most powerful tool for disintermediation we’ve ever seen. We tend to call this process “disruption.” What actually happens is that some previously successful business