To Succeed Bitcoin Needs Something New, Not More of the Same
Briefly

In the case of Bitcoin collateralized dollar loans, it is inescapable that these things interface with the legacy system. This gives those systems some degree of control over those applications, and Bitcoin itself.
Numerous projects are focused on collateralizing fiat or stablecoin loans with Bitcoin. These are important applications to build if Bitcoin is to be used in commerce, but they are not things that are only possible on Bitcoin.
Too much of this space is centered around essentially mimicking the legacy financial system. There is not much being built trying to blaze new grounds.
Consensus on Bitcoin is not governed by voting, it is governed by participation. If you aren't doing economic activity or transacting, your node has no influence on network consensus.
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