Thanks for the great article! I wished the section on DeFi addressed the biggest elephant in the room, overcollateralization. A DeFi borrower always needs to lock in more assets as collateral than what they are borrowing, thus defeating the whole purpose for taking a loan aside from financial speculation. And there's no real way to solve it: all mechanisms I've heard of either try to replicate some form of background checks on borrowers (not decentralised, and uses the real world), or claim to use real-world assets as NFT collateral (once again, uses the real world). Thus I can't see a way for DeFi loans to ever be used for mortgages and other loans regular people actually need.
Of course DeFi is more than just loans and borrowing, but that's an aspect that's constantly promoted by evangelists so I think it's an important point to mention.
Of course DeFi is more than just loans and borrowing, but that's an aspect that's constantly promoted by evangelists so I think it's an important point to mention.