Web 3.0 and Decentralized Financing

The premise of DeFi is around this idea that in the traditional financial system these centralized intermediaries such as banks, brokerages and so on wield a lot of power. So some of the concern that is often raised or voiced in this new architecture is that we need to get rid of these centralized intermediary because they have excessive rent extraction. And also, right, one other concern can be that they actually have the ability to see all our data and then use the data.