I am not alone in arguing at length against DeFi. DeFi is a mirage, it's young, computer-savvy kids rediscovering the mechanisms that were responsible for so many crises in the TradFi world. The 20-something and 30-somethings who were too young to really understand the underlying causes of the GFC from 2007-2009 . The young geeks who, because they are code wizards assume they are good in finance as well.
DeFi is a temporary fad as were the ICOs in 2017 - 2018, regulatory crack downs and scams and crises will make the DeFi bubble pop sooner rather than later.
In contrast, Hive has been built with a different story, that of a social blockchain.
Yes, we should attract more users and more brains but what users, what brains and why they come here matters a lot. I believe it would be a mistake to attract the DeFi crowd. I would rather attract content creators and game producers. Games, NFTs, blogs, that is where Hive is at its best.
It CAN do DeFi, that's a plus, but "beware what you wish for"
Centralised or decentralised, finance is still finance... and the increasing financialisation of our economies (whereas before they were dedicated to actually building things) is a net loss for everyone over time...
This is an interesting point of view that I hadn't thought of with regards to DeFi
Thanks for articulating it
I'm not alone, there are a lot of smart people on Twitter saying the same thing. This is a very good post I found from a tweet: https://www.paradigm.xyz/2020/08/ethereum-is-a-dark-forest/