Revealing the Disintermediation Concept of Blockchain Technology

Published: May 14, 2021

Content of Helsinki Blockchain Center Oy, Ltd

Written by:Teck Ming (Terence) Tan
External Advisor for Helsinki Blockchain Center Oy, Ltd
Typically, people have a misconception about blockchain as they associate this technology with crypto-currency. This chapter does not focus, however, on bitcoin or cryptocurrencies that pertain to its intrinsic value. Rather, the authors focus on the disintermediation feature of blockchain technology by providing insights into how this technology could substitute for the functions and roles of the intermediary.

The findings show that blockchain technology is not equipped with financing and physical distribution func-tions. The current research further demonstrates that most of the blockchain service providers that are listed in the Liechtenstein Blockchain Act are required to perform the traditional roles of an intermediary.

Thus, blockchain technology is not found to support a full concept of disintermediation. This chapter is vital in order for existing intermediaries to gain a deeper understanding of how to analyze and optimize their existing functions and roles while adjusting their business model in the token-based economy.

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