FYI I am not DeFi pro like you folks here. So my question may look dumb for you, so please bare with me.
Where I live if you want to take loan from bank it takes lot of time to get a loan approved and it involve lots of forms, fees over time just to apply for the loan. And more than anything they deduct their legal and travelling fees from loan offered and we are supposed to repay the full amount.
I was hopeful about DeFi will help to improve these kinds of banking problems in general, but with increased laws and regulations towards blockchains in countries like US, global warming.
Is there any way to overcome this hurdles, specially global warming and make DeFi successful in banking industry?