The blockchain is for transactions what the Web was for information. Will the blockchain cause a “transaction revolution”, just as the information revolution came with the Web?
Everyone can be mass medium on the Web
In the past, only professional companies with a lot of capital were able to publish and communicate mass media. Today, anyone can create and use mass media.
In the past, only a few had the opportunity to communicate information to the masses. Today, everyone can reach a potential audience of billions with their message.
In the past, publishing houses and TV stations controlled the communication channels. They decided who was allowed to disseminate what kind of content. Today, anyone can publish anything on the Web with just a smartphone, without having to ask or pay anyone for permission.
Before the Web, intermediaries such as publishers and media agencies made huge profits. Today, sales and margins of the intermediaries are shrinking rapidly.
The democratization of mass communication through the Internet has led to unprecedented cultural and economic transformation.
Everyone can be a bank with the blockchain
With the Blockchain everyone is a bank
In the past, only large financial institutions could carry out global and/or digital financial transactions. With Bitcoin and the blockchain, everyone can transfer digital money globally.
Before Bitcoin, you needed a lot of capital and a banking license to make digital financial transactions. Today, a smartphone and a Bitcoin address are sufficient.
In the past, banks alone controlled who had access to a checking account or a loan. With Bitcoin, anyone can directly participate in the global financial system.
Without banks, companies could not raise equity or debt on the financial markets. Today, it is possible to raise money via the blockchain without middlemen, for example with an ICO (Initial Coin Offering).
Banks, notaries and similar institutions were mandatory intermediaries with high profit margins. With the blockchain they will become completely superfluous.
A more detailed version of this article can be found at https://blockruption.com/2018/08/the-web-liberated-information-blockchain-to-liberate-transactions/?lang=en.