Abstract
Decentralized financial applications (DeFi) are a new breed of consumer-facing financial applications composed as smart contracts, deployed on permissionless blockchain technologies. In this article, we situate the DeFi concept in the theoretical context of permissionless blockchain technology and provide a taxonomical overview of agents, incentives and risks. We examine the key market categories and use-cases for DeFi applications today and identify four key risk groups for potential stakeholders contemplating the advantages of decentralized financial applications. We contribute novel insights into a rapidly emerging field, with far-reaching implications for the financial services.
Originalsprog | Engelsk |
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Artikelnummer | 150 |
Tidsskrift | Complex Systems Informatics and Modeling Quarterly |
Vol/bind | 26 |
Udgave nummer | 26 |
Sider (fra-til) | 46-54 |
ISSN | 2255-9922 |
DOI | |
Status | Udgivet - 2021 |