A '33-esque consolidation will probably happen shortly after these private bank instruments begin to become "too speculative, too volatile". This will be a one-time transfer from the unsavory band-aid into the new paradigm of digital currency. Think of these short term band-aids, and this includes crypto as a whole, as the black holes or endless drains to circumvent the public becoming too aware of the inflationary state of their economy. If this was not the case, all sapient humans would be pouring their worthless debt notes into hard assets, land, etc. These instruments buy time for societal investment and the value of the debt notes or speculative tools up until the infrastructure for the digital ID and money paradigm in ready to launch.