kaal:claim:3606663-026

Centralized financial technology does not complete the disintermediation it promises, because users still deal with a technology company as intermediary instead of a financial institution, which leaves room for the decentralized solutions DeFi attempts to provide.

Source quote, verbatim

In existing centralized forms of financial technology disintermediation users are still dealing with a technology company as intermediary instead of a financial institution.286 Accordingly, centralized financial technology disintermediation is incomplete and allows for further improvements.

From

Kaal, Digital Asset Market Evolution (2020), (2) Disintermediation Beyond FinTech, p. 64
https://ssrn.com/abstract=3606663 · source PDF

Cite as

Kaal, Digital Asset Market Evolution (2020). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3606663

Holds when

centralized FinTech platforms
peer to peer transaction settings

Classification

failuresupport: arguedfailure: incomplete FinTech disintermediationfamily: recentralization-driftdecentralizationdefieconomics

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