[tenebrisalietum]

In the US:

financial -> 2008 subprime loan crisis, recent inflation

groceries -> couldn't buy toilet paper at the start of the pandemic, still some lingering supply issues, prices going up

restaurants -> many not open reliable hours anymore, many closing

medical -> costs way too high and continue to rise, hospitals oversaturated with patients from time to time, nurses quitting

All of it is ultimately backed by laws, systems, real people who can be held accountable -> maybe if you are rich

I can't fault the average-income (or slightly higher/lower) person for having the point of view that these are starting to fall apart and aspects of DeFi becoming attractive, even though the practicalities have a long way to go before they would become anywhere near as foundational.

[rchaud]

What aspects of DeFi look attractive exactly? Yield of some digital coin which only has value relative to a fiat currency?

Your local bank at least complies with regulations that cap transaction fees for your chequing account. Meanwhile, ETH gas fees are completely unpredictable, and can easily be higher than the amount you're transferring.

[amitkgupta84]

I mean more like, you can generally eat food from grocery stores and restaurants and trust it'll be pretty safe. You can get medical operations and pharmaceuticals, and generally trust them. There are actually extremely large problems here, e.g. Purdue and fentanyl, but even there Purdue has been fined to death by the government. Still, there are huge problems for sure. The problems need to be addressed, but I think if you look to narrowly at some of the problems, you think the whole system needs to be overthrown. Sure that sentiment is increasing, but more pushed by well-off elites than a genuine grassroots uprising. This is one of the biggest problems we face today IMO.

I don't think DeFi helps with most of the problems you're talking about. Supply chain issues, COVID-related business restrictions, health care prices and the role of insurance providers, none of these are caused by centralized financial systems.