Comment by mindwok
That's the purpose of crypto, yes. As it turns out people like having trusted authority in their money movements, and so now we're watching the crypto world just re-invent the financial industry basically as a digital twin.
Just look at Tether, the darling of the stablecoin world, which is minted by a handful of institutional clients. If you squint hard enough, you can see the banks.
Corporations and businesses aren't the only middlemen in traditional finance. The federal reserve, treasury, and/or whatever settlement system (swift), clearinghouses, and networks (visa etc) exist.
As a naive consumer you might not see all the gears but the layers of complexity in traditional finance are vast compared to the bitcoin whitepaper.
I'm still amazed at how deeply this forum of supposed compsci gurus is hoodwinked by groupthink and a few "scam" headlines from info brokers.