I agree with your views in a country like the US where banks are widespread and people have Internet access. However in a country like Indonesia it’s quite different. Only 50% of the population have a bank account, and even if they have a bank account they might not have sufficient credit history to apply for a loan for their business or a home. Banking is much more than just a checking or savings account with a debit card. DeFi theoretically has a lot of potential to disrupt in these countries (as many people own a mobile phone), but it looks like it will be up to the horizontal platforms like Grab and Gojek.