Innovation in Internet still has long way to go..

Innovation in Internet has still a long way to go. Internet has annihilated middlemen in many industries in last decade. However, the job is not finished yet. We still have middlemen in real_estate services, car sales, music labels, money lending services (peer lending has not succeeded as much), and .....credit cards (YES, credit cards too)

Credit cards act as middlemen between banks and customers. Credit cards end up charging outrageous 3-5% of each transaction and give most part of it back to the card-issuing bank. This is unacceptable in 21st century when you don't need a swiping machine to do the transaction. Something like paypal (or) a new form of internet currency will eventually replace them. Unfortunately this change will take much longer than others because of the heavy control of banks over the money supply.

On top of this, Internet will continue to enable things we haven't even thought of yet.