DeFi’s promised to replace TradFi, not sit on top of them
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Decentralized finance likes to tell a very simple story about itself. Billions of people are unbanked. Traditional finance is slow, exclusionary, expensive, and biased toward incumbents. Blockchains are open, permissionless, global, and neutral. Therefore, DeFi will bank the unbanked.
Summary
- DeFi didn’t replace traditional finance — it wrapped it. Its money, identity, pricing, access, and liquidity all still come from banks, regulators, and centralized infrastructure, so it…
