However, I think the real hope for this (and yes, a community-driven approach rather than government-controlled) is what's already changed the world in my lifetime through open source communities.
The most successful distributed ledgers have so far been open source. This is another sentiment, but I started using Linux in 1996 because I hit too many brick walls in Windows as a kid. Just simply learning how it works always resulted in at least one headache (I recall trying to learn C++ in windows at that time, and then seeing a friend's Debian environment, and that was that)
Since then I've seen those philosophies (more social than technical I think) creep into so many previously off-limits proprietary areas. It blows my mind what we've achieved, not just creating a system where we have more control but forcing the "evil" companies many of us hated at the time, like Apple and Microsoft, to adapt. I never thought Microsoft would open source anything, yet here we are with dotnet core and more. I don't see any reason why we can't carry that over into banking and fintech, and this does feel a lot like the clunky early days of Linux. But a well-organized decentralized movement can topple major centralized institutions, and while a complete takeover by the people probably won't happen, already every major bank is adapting to this new world. And they have much less control in this one, too.