“Unsurprisingly, the banks have been performing pretty poorly over the past decade. From the US banks, to those of China, Japan and Europe, an abysmal performance from a once-towering industry. Just try to picture that: this is the sector that caused the 2008 financial crash. They have honed the craft of privatizing gains and socializing losses. However, despite this, they have still been unable to capture any value for their shareholders… So the question then becomes: what services are these banks providing and can they be replicated in DeFi?“