I have done my homework, and read about DeFi here:
Bloomberg – The Crypto Story by Matt Levine
Let me quote the last sentence from the DeFi part:
Bitcoin and Ethereum and DeFi could all vanish tomorrow without a trace, and most businesses that make stuff in the physical world would be just fine.
And another from “Trust”:
The problem with making every product also a Ponzi is that you can’t be sure if your customers are there for the product or the Ponzi. When it collapses, you can. If they’re still there–if they still use your product without getting rich off the token–then that means your product is promising. If not, well, you ran a Ponzi.
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if the product is something people want, then the tokens will take care of themselves. Crypto people have a lot to prove on that front.
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If so many smart finance people have moved into the crypto financial system, if they find it so much more enjoyable and functional and productive than the traditional financial system, surely they’ll eventually figure out how to make it, you know, useful.
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If the world is increasingly software and advertising and online social networking and, good Lord, the metaverse, then the crypto financial system doesn’t have to build all the way back down to the real world to be valuable. The world can come to crypto.