Blockchain and the Middleman

Traditional transactions have always involved middlemen. They establish trust and act as an impartial and unbiased third party — but also bring extra cost, complexity, and the potential for error. Blockchain technology provides us with a secure, fast, transparent, and error-free digital record of the history of transactions, and truly has the potential to remove middlemen from business and personal transactions.

This great video from the team at TED does an excellent job of explaining the current and possible scenarios.