Beyond disintermediation: A multiple case study of emerging intermediary roles in blockchain applications

Simon Feulner, Tobias Guggenberger, Jens-Christian Stoetzer () and Nils Urbach
Additional contact information
Simon Feulner: Frankfurt University of Applied Sciences
Tobias Guggenberger: University of Bayreuth
Jens-Christian Stoetzer: University of Bayreuth
Nils Urbach: Frankfurt University of Applied Sciences

Electronic Markets, 2025, vol. 35, issue 1, No 98, 17 pages

Abstract: Abstract Since the introduction of blockchain technology, both academic and practical discourse has explored its impact on intermediation. Early research emphasized the notion of disintermediation, removing traditional intermediaries through decentralized trust and automated coordination. Yet, more recent studies highlight that blockchain systems often give rise to new forms of intermediation. These roles may not resemble legacy intermediaries but nonetheless fulfil essential functions such as compliance, governance, and technical integration. Based on a multiple case study, we investigate how and why such re-intermediation occurs in blockchain ecosystems. Our analysis identifies three recurring drivers, system integrity and resilience, boundary and interface management, and governance efficiency, that structurally necessitate new coordination layers. This study thereby contributes to electronic markets and blockchain literature by offering a refined conceptualization of intermediation dynamics in distributed systems.

Keywords: Disintermediation; Re-intermediation; Blockchain; Multiple case study (search for similar items in EconPapers)
JEL-codes: L1 M0 O30 (search for similar items in EconPapers)
Date: 2025
References: Add references at CitEc
Citations:

Downloads: (external link)
http://link.springer.com/10.1007/s12525-025-00832-5 Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:elmark:v:35:y:2025:i:1:d:10.1007_s12525-025-00832-5

Ordering information: This journal article can be ordered from
http://www.springer. ... ystems/journal/12525

DOI: 10.1007/s12525-025-00832-5

Access Statistics for this article

Electronic Markets is currently edited by Rainer Alt and Hans-Dieter Zimmermann

More articles in Electronic Markets from Springer, IIM University of St. Gallen
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().