Thank you.

I disagree only in the sense that the present dat regulatory / political / legal frameworks do not allow you to attach real world claims to defi tokens. It does not fit the real world’s frameworks. You cannot attach real company’s future cash flows to a token that is transferable, modifiable, transformable, etc. in the DeFi sense. The way that legal titles and the administration of them works today won’t allow you to do that.

As I wrote in my previous article, you could say that trading and speculating in traditional financial system is similarly abstract and detached from real productive things, but that would not be accurate. Concepts like hedging and derivatives were invented precisely out of the necessity of real economic actors, such as farmers selling their future harvest upfront, or companies fixing their loan rate to be able to manage their expense and continue producing.

The detachment from real world is real. Having said that, long-term these abstract constructs that we call DeFi could begin to have a utility If they mature and normalize (no astronomic returns) and achieve lower volatility partly via law of large numbers , then yes people can start using them to finance their real world needs.