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As someone with a similar-ish position to yours, I think by the time someone figures out how to build something useful with this technology, the terminology of cryptocurrencies (blockchain, "defi", NFTs and whatever a "web3" is) will be so tightly associated with scams, that this new useful thing will use completely different terms to describe itself.

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While true, there's an endless supply of new buzzwords to use to capture another round of rubes.

These things already exist. Uniswap, Aave. Both pretty easy to use and can not just go insolvent on you.

The only currently existing purpose of those things is to trade scam tokens for other scam tokens, which makes them effectively meta-scams. What I mean is that, like Ethereum, they're not scams in itself, but their only real-world use-case is to provide a decentralised platform on which to run scams.

Lazy and shallow take. But at least those using the “scam” DeFi protocols still have custody of their assets, which is not the case with FTX depositors.

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