So today, we rely entirely on big intermediaries -- middlemen like banks, government,
如今，我们完全依赖于大型中介机构，中间商比如银行，政府，
big social media companies, credit card companies and so on to establish trust in our economy.
大型社交媒体公司，信用卡公司等等，来构建经济中的信用体系。
And these intermediaries perform all the business and transaction logic of every kind of commerce,
这些中介机构承办了各式各样的商业贸易的一切流程。
from authentication, identification of people, through to clearing, settling and record keeping.
从对人们的身份验证，到记录的清除，设定和保存。
And overall, they do a pretty good job. But there are growing problems.
总的来说，他们做得不错。但是有一个问题日益凸显。
To begin, they're centralized.
首先，他们过于集中，
That means they can be hacked, and increasingly are --
这就意味着它们会被黑客攻击，
JP Morgan, the US Federal Government, LinkedIn, Home Depot and others found that out the hard way.
像摩根大通银行，美联储，领英，家得宝等惨痛的教训证明了这一点。
They exclude billions of people from the global economy,
它们使数十亿人民与全球经济隔绝，
for example, people who don't have enough money to have a bank account. They slow things down.
比方说，有人由于没有足够的资金无法开户。它们降低了效率。
It can take a second for an email to go around the world,
一封电子邮件转瞬即可环游世界，
but it can take days or weeks for money to move through the banking system across a city.
但是会花上几天甚至几周的时间，通过银行移动城市内的金钱，
And they take a big piece of the action -- 10 to 20 percent just to send money to another country.
它们从中收取大笔利益：跨国转账需要10%到20%的手续费。
They capture our data, and that means we can't monetize it or use it to better manage our lives.
他们掌握了我们的交易数据，这意味着我们不能将其货币化，或是更好地管理我们的生活。
Our privacy is being undermined.
我们的隐私正在暗中被侵蚀。
And the biggest problem is that overall, they've appropriated the largesse of the digital age asymmetrically:
而最大的问题在于，他们使得数字时代带给人们的福利变得不再平衡。
we have wealth creation, but we have growing social inequality.
我们创造着财富，但是我们的社会也日趋不平等。
