Danny Ryan makes a point that a lot of people miss: institutions don’t obsess over “decentralization” the way crypto bros do. They care about counterparty risk. Decentralization minimizes counterparty risk. It’s a risk management framework, not an ideology. That’s a big reason Ethereum continues to hold a structural edge over other smart contract platforms, especially in the realm of finance. But it’s not just decentralization. You also have to factor in: -Lindy effect: Ethereum has survived cycles, attacks, upgrades, and stress. -Network effects: the deepest liquidity, the most developers, the most tooling. -A culture of reliability and credible neutrality. -Increasing regulatory clarity relative to most alternatives. Put it all together, and Ethereum is the default settlement layer for "real world" onchain finance by a wide margin. That’s also why ETH is increasingly viewed as an alternative digital store of value to BTC, but with a crucial difference: it’s embedded in a productive economy. It secures the network and generates yield through staking. That’s why Ethereum is the internet of finance.