'Disintermediation' is what you are explaining; the removal of intermediaries. Its one of the most overlooked qualities of blockchain and cryptocurrency, and its a major factor in the viability and value. Everyone talks about decentralization, and thats important, but disintermediation is what makes building a block-chain project worthwhile.

The reason crypto-currency is so valuable, is that the traditional banking system is horribly overloaded with intermediaries, and each intermediary needs to get paid. Who pays? You do.

So lets say in the fiat world I want to send you some money, if we both bank with the same bank, I ask the bank to move some money from me to you, thats simple; 1 intermediary.

But if you have a different bank, well then I have to ask my bank to pass money to your bank; 2 intermediaries.

But if my bank and your bank dont have accounts with each other, then they need another counterpart bank who does have accounts with both banks to facilitate; 3 intermediaries.

To make that happen quickly, each bank doesnt make every transfer as they occur, they wait til the end of the day and settle net amounts, but for security reasons this needs the central bank to become involved; 4 intermediaries.

Bear in mind, this 4 intermediary scenario, assumes we both have bank accounts in the same nation/currency, if we start getting international, then it gets a lot worse.

Crypto-currency removes all this clutter, and uses peer2peer, basically 0 intermediaries, but as you pay a transaction fee, lets be charitable and call it 1 intermediary.

Whenever I look at the long term viability of a block-chain project, its worth noting if it reduces the number of intermediaries as one success dimension.