Decentralized finance

Küçük Resim Yok

Tarih

2021

Dergi Başlığı

Dergi ISSN

Cilt Başlığı

Yayıncı

Springer Nature

Erişim Hakkı

info:eu-repo/semantics/closedAccess

Araştırma projeleri

Organizasyon Birimleri

Organizasyon Birimi
Yönetim Bilimleri Fakültesi, İşletme Bölümü
Küresel rekabete ayak uydurmak ve sürdürülebilir olmak isteyen tüm şirketler ve kurumlar, değişimi doğru bir şekilde yönetmek, teknolojinin gerekli kıldığı zihinsel ve operasyonel dönüşümü kurumlarına hızlı bir şekilde adapte etmek zorundadırlar.

Dergi sayısı

Özet

Newer and better ways of financing lubricates the wheels of an economy. In recent years, there have been phenomenal changes in technologies used in finance. One of such technologies was introduced by creating the first cryptocurrency Bitcoin. The technology behind this invention is known as blockchain. Although there are and there might be other use cases of blockchain technology, the finance era is important and currently it is the most adapted industry; currently there are a number of cryptocurrencies, tokens, smart contract applications among others. This article seeks to introduce the basics of—so called—decentralized finance (DeFi) through an exploration of blockchain technology in the field of finance. The focus is on the definition of decentralized finance, its elements, its current state and its future. Elimination of intermediary need, easier access, improved inclusiveness, and transaction speed, flexibility to write any contract that can be codable, immutability of transactions, better interoperability and censorship resistance are some of the main advantages of blockchain. Additionally, increased privacy, transparency, enhanced security, efficiency in the form of reduction in overhead costs for banks, and trust are considered as the benefits of blockchain technology in finance, hence for DeFi. Its power need due to the excessive computer power needs, setting standards in validating new blocks and in communicating between different networks are important issues. Besides, user experience, scalability, current speed of blockchain networks, regulations like AML and KYC requirements, the lack of regulation in DeFi, and interoperability are key issues as well. In summary, the current state of DeFi markets is not technologically able to provide a worldwide service at the scale the centralized finance provides. It needs improvements in its technology and sound regulations to gain wide acceptance.

Açıklama

Anahtar Kelimeler

Decentralized Finance, DeFi, Blockchain, Cryptocurrency, Token, Smart Contract, Bitcoin, Ethereum, Stablecoin, Permissionless, Borderless

Kaynak

Financial Ecosystem and Strategy in The Digital Era

WoS Q Değeri

Scopus Q Değeri

N/A

Cilt

Sayı

Künye

Özcan, R. (2021). Decentralized finance. Ü. Hacıoğlu, T. Aksoy (Ed.), Financial Ecosystem and Strategy in The Digital Era içinde (57-75 ss.). Cham: Springer Nature. https://dx.doi.org/10.1007/978-3-030-72624-9_4