The Too Big to Fail Problem

crypto is not as decentralized as the narrative suggests, rather tiresome. We need a system that is sufficiently open to competition and innovation for a significantly wider set of participants than exists in the current system. To achieve that, we don't necessarily need to attain some utopian standard of total decentralization. What matters is whether every institution is subject to some form of market pressure easy innovation versus hard innovation. It's all about price signals - defi users have far greater influence over what gets built than banks do. Sileh: If defi can be sustained, it will prevent the same kind of systemic risk that consume the banking system in the two thousands.

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