I agree it has a lot of centralising and trust factors, and maybe this tech is better suited for those who want to trust, like an uncle jim setup, or a community like a circular economy, giving them the tools to manage their own little bank where trust is already established

Here in South Africa group savings is a massive thing, holding billions, communities, groups, families all get together and save together, pull loans from it based on agreements, not that there aren't scammers, but this is handled within the community, even our local banks offer products to help this type of community fund pooling

This is where I see something like fedi/ecash finding its niche