The bureaucracy seems to be just a Façade to prevent competition (and consequently innovation).

I'm not an economist but the more and more I read up on the matter following the cracks that showed up after the crisis of '07-'08, the more disillusioned I become.

There was a lot of optimism regarding Bitcoin being a deflationary currency affecting change from outside the system but it's going down the same route. The big players (Conbase/Circle) in this field are just being absorbed by the existing system and will loose their outsider advantage.