Coinbase: Future Of DeFi Is Just Banks With Extra Steps

Coinbase, ever the oracle of the crypto realm, has peered into its crystal ball and divined a future where "decentralized" finance embraces the warm, reassuring embrace of "institutionalization" and, one can only assume, many, many regulatory forms. It appears the grand vision of a bank-free utopia is being gently nudged towards something remarkably similar to... well, a bank. But with more confusing acronyms and the persistent hum of servers.

The impending shift suggests that the primary innovation will be replicating existing financial structures, albeit with a fresh coat of blockchain paint and the added delight of non-fungible tokens for your digital receipts. We're told to prepare for the ascendancy of "newer L1 chains," which, in a delightful display of technological progress, will offer broadly similar functionalities to existing ones, just with different branding. One might almost suspect this entire endeavor is designed to bring the wild west of DeFi back under the firm, guiding hand of, say, the SEC. The future is bright, efficient, and entirely familiar.