Is DeFi a threat to banks?

Is DeFi really a threat to the traditional banking system? It seems like the decentralized finance movement is gaining momentum, offering alternatives to traditional banking services. But should we be worried about the potential impact on banks? On one hand, DeFi offers greater accessibility and convenience for users, as well as potentially lower fees. On the other hand, banks have long been the cornerstone of the financial system, providing stability and security. So, is DeFi a legitimate competitor to banks, or is it simply a niche market that will never pose a real threat? What are the potential risks and benefits of DeFi, and how might banks respond to this new challenge?