DeFi or decentralized finance can threaten the world of traditional banking, because of the shift in lending, even DeFi itself is known to be able to provide loans like other traditional banks.
This can affect existing traditional banks, because there will be competition between traditional banks and crypto in general, regardless of the various problems that will occur, crypto and traditional banks must be able to adapt to each other.
Crypto development is progressing so rapidly, this can be seen from the many users who join here, if Traditional Banks close themselves it is not impossible to be abandoned in the next few years.
Although currently crypto is still very risky, it is not impossible that in the future crypto can change finances, just need to wait for regulations or legal regulations, if this happens, it is certain that crypto will grow and be accepted by many people.
Dare to speculate and dare to take risks, at least this is a guide for developed countries, they don't start to limit crypto development, they also don't try to legalize it in the near future, in principle they want to open up to something that exists, especially nowadays technology can make things easier, both crypto and conventional banks are not involved in the problem, but must be able to run side by side together, because to avoid financial freedom, it is necessary to have a system that regulates and controls them on the way, I think both crypto and conventional banks, both will continue to be needed by many people going forward