There's obvious trust involved in the process

Apart from the wallet parts custodial, the process is the same for users in most developing countries too

Machunkura could allow users to connect their own nodes and communities could manage this on a local level, this is very much the norm here, billions are sitting with people in your community, we call it a stokvel, you hand your cash over to someone in the community they bank it for you, invest it etc.

I did a post on how the stokvel could be better built with lightning and ecash but this would still require someone to run infrastructure for the USSD access with the telco, unless everyone now has smartphones, then of course this is totally irrelevant