It all comes down to how you define Decentralized Finance. You could put Bitcoin and what it offers under the category of "Decentralized Finance" and it does offer a solution for the "unbanked".
i don't think bitcoin was designed to help people who were having difficulty because they were unable to get a traditional bank account. it will never replace that. pretty much no one takes bitcoin as payment...so for someone to think that bitcoin is the solution to them not having a bank account, all they are going to have is a private key on a piece of paper or some trezor but if they can't verify their ID and things like then no one is going to touch them with a 10 foot pole. including p2p exhcangers. because most p2p is not done face to face. unless they can find someone like that then they are stuck with bitcoin without a way to use it.Quote
The problem is when these days people talk about "Decentralized Finance" they are referring to the DeFi token creation hype where they create an utterly useless token on a token creation platform like ethereum and pump and dump it. That's not Decentralized Finance at all! That's more like selling dog poop in a pretty bag!
hopefully that misleading term "defi" goes away since all it is really is a gateway word to scamming people that don't realize there is no such thing as them being their own bank and making 15% on top of that.
