The most important concept in Crypto no-one seems to talk about any more

There is a very important word, it seems to have gone the way of the Dinosaur in crypto conversations.

In fact by chance it also starts with the letter "D", can you guess what it is?

If your mind jumped to Decentralization, I'm sorry thats close, but no cigar.

The word you are probably missing is:

Disintermediation

If you are not clear what that means, here are the Top 3 Definitions that came up on my DuckDuckGo search (D is surely the letter of the Day):

1. The elimination of intermediary agents in transactions between buyers and sellers.
2. Withdrawal of funds from intermediary financial institutions, such as banks and savings and loan associations, in order to invest in instruments yielding a higher return.
3. The removal of funds from a financial institution such as a bank for direct purchase of financial instruments.

Now perhaps you begin to see, what this word is all about; Fuck the banks, amirite.

However, its so much more than that, this is very important to understand.

Lets read the very first sentence in the Bitcoin Whitepaper together:

" A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. "

Oh, so the true idea of cryptocurrency, is to disintermediate financial institutions, from the process of payments with a cash like alternative.

You may be thinking "That's nice, but why should I care? I don't hate banks, I love licking the boots of my corporate overlords", many people in crypto seem to feel this way nowadays.

Well dear crypto friends, the reason you should care abut the real "D" word, is because this is what gives a cryptocurrency TRUE VALUE. A system that has no intermediaries, is by definition, faster, cheaper and is not subject to interference. In other words a disintermediated system is more efficient and safer than a system with intermediaries; THIS IS VALUABLE.

This isnt pretend valuable like whatever Bitcoin maxis are shilling nowadays, what is it now "Store of Value" or "Time Value of Energy"? I don't know, some nonsense mumbo-jumbo.

So when you look at a crypto project and wonder "Why does this have value?", now you know the secret sauce value proposition that all of crypto was founded on.

Look at your DeFi protocol, does it have more or less intermediaries than the legacy financial system, IS IT EVEN TRYING TO REPLACE THE LEGACY FINANCIAL SYSTEM?

Look at your crypto L1, does it have intermediary relays ordering transactions for validators, does it have websites run by intermediaries so you can even access the system?

Have a lovely day.