Bitcoin network would make it impossible to bypass the traditional financial intermediaries. true or false
Answers
Bitcoin is a form of virtual money. It is quiet similar to the currencies of nations, and just like the way the value of currency of a nation can be compared by other nations currencies, similarly values of bitcoins are also compared to other nations currencies.
Basically it is not possible practically to bypass the traditional intermediaries, because after all there is a great feel of reliability on the physical presence, in comparison of electronic and digital.
Let us first consider the traditional financial intermediaries where in third parties are involved that is financial institutions are responsible for handling your funds and also introducing to other people in the market.
However when we consider Bitcoin we see that it is a far more simpler process where in we use crypto currency and make are monetary transactions digitally using the crypto currency.
The system is similar to that of barter where people would exchange commodity for commodity.
Hence we can say that people are likely opt for crypto currencyas the trend rises.