"I look at the set up of my personal finances and reflect: my daily banking activities are managed through Revolut, I transfer money internationally via Wise, invest on Hargreaves Lansdown and Interactive Brokers, experiment alternative lending via Mintos, buy crypto on Coinbase Pro — when off-chain, more on DEXs and AMMs in another post, place my state-guaranteed deposits on Raisin at the best offeror, purchase insurance online on various websites."

Easy peasy. What fun it is to be the smartest kid in the class. You really think it would be a good use of EVERYBODY'S time to get an understanding of Ethereum? On what planet do you live? Some people actually have THINGS TO DO. Yikes. Crypto is simply too hard for most people. They will use it via trusted intermediaries who use it for them. So much for "trustlessness," the most elitist of all virtues.

Central authorities are essential to civilization. Leviathan can go too far, but thinkers from Hobbes to Ostrom understand that the great multi-player, iterated Prisoner's Dilemma we call life is a plus-sum game only if there is a coordinating authority. DeFi is medieval thinking, a return to the time when "Panic of ..." was a common financial label. Bitcoin was born obsolete, and so, too, is every currency that does not give its barter-economy users the benefit of managed inflation.