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Decentralized finance (DeFi), enabled by blockchain, could bring about a new financial system, where peers will interact directly, with little or no place for traditional intermediation. However, some crucial tasks cannot be left solely to an algorithm and, consequently, most DeFi applications still require human decisions. The aim of this research is to assess the role of intermediation in the light of DeFi, analysing how humans and algorithms will interact.

The authors based their work on a twofold qualitative methodology, first analysing publicly available secondary data, particularly from white papers and DeFi Pulse (a website providing data on DeFi solutions) and then running two focus group discussions.

DeFi does not eliminate financial intermediation, but enables it to be performed in new ways, where decentralization means that no single entity can hold too much power or monopoly. DeFi has, however, inherited risks from the underlying technologies that unintentionally facilitate illegal behaviour and can hamper the authorities’ supervision. The complex duality algorithm- vs human-based actions will not be solved indisputably in favour of the former, as DeFi solutions can range from requiring algorithms to play a dominant role, to enabling greater human interaction by actively involving more people.

This research contributes to the emerging debate between algorithm- and human-based intermediation, especially in relation to the standing literature on financial intermediation, where considerations made in the light of the newest theories on blockchain and DeFi are still scarce.

The paper presents an exploratory study to investigate the impact of B2e MI applications and, in particular, an empirical analysis of the main features of Italian B2e MI applications for automating sales‐ and field‐force activities.

The study has been carried out with 16 case studies of B2e MI applications employed in different Italian companies.

The paper describes the main features and impacts of the applications, showing how the network is utilized, how the device and the usage mode (online or offline) affect these applications and indicating the major opportunities for improvement.

Some indications for management regarding B2e mobile applications are the need: to develop simple applications; and to start mobilizing the sales‐force, because this provides faster pay‐back and easiest implementation.

The paper provides material to illustrate the current situation and serve as a starting point for scientific analysis. Findings regarding the use of mobile phones and mobile networks as compared to fixed‐line solutions are presented and explained. Differences in the use patterns of the applications are also discussed with real case examples.

The paper's aims are to estimate the size of the Italian market for mobile customer relationship management (mCRM) services and to try to evaluate some benefits that can be obtained through the use of mCRM applications by companies.

The research involved a census of mCRM applications in order to construct a typology of mCRM applications being used and the analysis of some case studies to assess the impact of such applications on the perspective adopted by the company. This second phase involved interviews with managers of the companies.

In 2005, 1,077 mCRM services were used by 405 companies in Italy. The main benefits found were the improvement of customer satisfaction, an increase in the efficiency of internal processes and an increase in revenue.

The present research considers only Italian services based on data and not on voice. Future research will be required to investigate end‐user needs and wants (which are not treated in this paper) and to make a comparison between the Italian market and other markets.

This research is the first step towards the generation of a systematic study of mCRM applications and their future development. The hope is that other companies could benefit from the use of these kinds of technologies.

The present research focuses upon companies that give a strategic role to their relationship with customers. The results provide a systematic typology of current services for those companies that do not know about opportunities offered by the mobile channel.