Banks are a form of centralized finance that everyone is familiar with — they have a single governing individual or committee, third party oversight and regulations, and complete control over their customer’s information. This includes identifying personal info, like names and addresses, as well as each customer’s transaction history. Taking out a loan, paying into investment services, or withdrawing cash are all facilitated by the bank itself — you can’t buy a coffee with your credit card without the bank and the credit card company knowing when you got it, where, and what kind.