Eliminating the "middleman" is one of the great commercial benefits blockchain could deliver by reducing the fees these bodies charge from banks to uber. Liberating customers to trade and engage with confidence and lower costs.
Yet the very decentralised, anarchic nature of blockchain does raise security issues. Never, it seems to me, has there been a bigger potential prize for hackers to exploit than a globally deployed blockchain.
Then the very "distributed ledger technology" that gives it its transparency and proof of record must result in an ever increasing overhead of maintenance. This can be seen in the rapid obsolescence and exponentially increasing energy requirements of miner's technology.
The level of investment and increasing number of deployments shows the potential attraction but beware the potential downsides. Well worth a read ths Word Economic
Security is still the biggest challenge confronting the blockchain. “The truth is, once you give someone access to a network, many times, more often than not, they can end up very easily getting blanket access to that network,” said Joe Ventura, CEO of AlphaPoint. “This is a huge security problem.” However, if one ends up building many protections to prevent hacks, then it bogs down the blockchain and defeats its purpose in the first place. “Basically, you have to jump through so many hoops simply to pass the message from some party to another party.”