The Role of Intermediaries in the Unified Ledger

In the current system, intermediaries are bookkeepers. They are entrusted to update the entries in the books. In the unified ledger, the intermediaries are not doing the day-to-day stuff because the transactions are actually programmable. Their role is much more in the governance realm. If the rulebook needs to be changed, they're going to be involved in convening all the interested parties to get the rulebook.