Thanks for taking your time to read my article.

Honestly, I really like open source and decentralized things, however, currently we will not be able to have anything that replaces traditional banking, because even those of us who are in the crypto world if we want to make a purchase in a store we have to pay in FIAT or else we have to use a middle man that converts crypto to FIAT.

DeFis are something that I particularly like just because they give me the option of deciding where to invest my money and I know exactly what the expected return is and that I can receive it second by second and if I need to use it to pay something I don't have to call my bank manager and ask to have the money available even though I had to wait 3 days or more for that to happen.

In a situation like this, if we had more DeFis applications that allowed us to invest in banks and things like that, we knew exactly the risks we were running and if we wanted to withdraw the investment, they could too because I believe that in many of these cases people invest in applications that their manager references without really knowing what they invest in.

I am in favor of decentralized stablecoins like DAI or HBD, I only mentioned DAI because it has a large market cap while HBD is still something small.
I have an HBD and use it with a DeFi application, taking advantage of the 20% that Blockchain now gives in Savings.

However, there has yet to be a decentralized stablecoin that proves truly resilient against liquidity attacks from the world's great whales.
What makes sometime in time end up being a deppeg of its value that could bring chaos and end up with a stablecoin just like it happened with the UST.
The HBD is only stable enough because at the moment DHF funds are used to keep the HBD stable and the HBD is not yet being used by better users with DAI or as was UST otherwise there would certainly have been more times when there would have been a deppeg between HBD and the dollar.

Regarding the response of US regulators, I honestly think they or other regulators like those in Europe still do not have a complete idea of everything that exists within the blockchain and they end up talking and making decisions depending on the issues appearing on the front pages of newspapers.
I have never come across an interesting project on the part of regulators to have a transparent and decentralized regulatory structure where everyone knows the rules of the game and that cannot be changed by just a few people.

My question about a more robust and decentralized financial ecosystem is: How would all the middle men that exist today and earn money with the current system go along with something like that?