Forbes says blockchain is creating new digital financial institutions

Forbes said blockchain technology is not eliminating traditional financial institutions but creating new digital financial institutions instead. The media outlet said stablecoins are shifting from crypto tools to financial infrastructure, while the market for real-world asset tokenization is expanding rapidly as it is being led by major traditional financial firms rather than decentralized communities. It added that institutional investors are becoming increasingly reliant on intermediaries as they enter the cryptocurrency market. Forbes said the shift can be understood not as a failure of the crypto industry, but as a historical pattern in fintech development. Technology typically does not eliminate intermediaries altogether, Forbes said, but changes their role. It added the key question for the blockchain industry is not whether intermediaries can be removed, but whether newly emerging digital financial intermediaries can serve a role that is more transparent, efficient and verifiable than the existing system.