The difference between DeFi and the existing financial system is that all financial services are recorded in smart contracts that cannot be changed from outside. However, there are risks of using DeFi, since in case of an error in the smart contract, participants may lose their money. With centralized funding for all of the errors can easily be corrected by the employee
That's definitely the case
I mean decentralized being immutable and irreversible, on the one hand, and centralized fixable and accommodating, on the other. But this is the price we have to pay if we don't want to have third party risks, which come down to someone ignoring all the rules or arbitrarily changing them in the process as they see appropriate (and it remains to be see which is worse). I suspect we can't have it both ways