DEFI is just a financial solution and it will not be able to replace the banking system the way people expect Bitcoin.
People will need safety, security, and certainty about their money. If DEFI projects really meet the needs of the people, it will certainly be the choice of everyone in the future. It's too early to conclude anything.
People will need safety, security, and certainty about their money. If DEFI projects really meet the needs of the people, it will certainly be the choice of everyone in the future. It's too early to conclude anything.
Exactly. "De-Fi" is still far from replacing banks anytime soon. Its biggest downsides are hacks, theft, and price volatility. People want stability, safety, and reliability, so most of them resort to banks to help secure their financial future. We should give the "De-Fi" industry more time to mature as it's just starting to blossom. Even so, it's unlikely banks will disappear since they control the world's economy. As long as Fiat exists, banks won't be going anywhere. One would expect "De-Fi" and "Ce-Fi" (banks) to co-exist for many generations.
What matters is decentralization and censorship-resistance in order to fulfill crypto's vision of "banking for the unbanked". As long as "De-Fi" stays true to its roots, there should be nothing to worry about. Just my thoughts
Sure, as long as the FIAT survives, the banks aren't going anywhere. We need political, economic and social stability. We believe in government but are not sure about FIAT.
The idea of a financial system that combines CEFI and DEFI looks good, but how can it be done? This must depend on El Salvador, they are accepting Bitcoin as a legal means of payment. Maybe they will combine DEFI and CEFI in their financial system.