The blockchain network eliminates middlemen and, as a result, elements of the government system. There is no need for a central bank anymore and everything is done under the blockchain chain and by the users themselves. Peer-to-peer transfers between two parties on the Bitcoin network mean that there is no need for middlemen to manage and distribute the currency. In theory, simplifying transactions between people and between different actors on the Bitcoin blockchain could overhaul the current system. The financial infrastructure of digital currency is decentralized, and the power to increase or decrease the supply of currency is not vested in one or a group of authorities. Therefore, in the new structure, the role of governments in managing and regulating economic policies through intermediaries is eliminated.
The blockchain technology is not trustless but rather a confidence machine, the blockchain technology increase confidence in the operations in a computational systems confidence in a blockchain system depends upon underlying governance structure. Blockchain technology was created as a response to the trust crisis that swept the world in the wake of the 2008 financial crisis blockchain technology relies on cryptographic rules, mathematics and game theoretical incentive order to increase confidence in the operation of the computational system.