Abstract
Decentralized finance, often referred to as DeFi, is a blockchain-based financial system that aims to provide open and permissionless access to financial services and products without the need for intermediaries, such as banks or traditional financial institutions. DeFi leverages the decentralized nature of blockchain technology to create transparent, secure, and programmable financial applications that operate on public or permissionless networks. In DeFi, the replacement of intermediaries with programmable smart contracts does not allow the application of traditional theories of risk management and it is necessary to use a different approach. Creating an investment protocol in the blockchain is fascinating and would open access to the capital market to interesting projects that often find financing difficulties.
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Moro-Visconti, R., Cesaretti, A. (2023). Decentralized Finance (DeFi). In: Digital Token Valuation. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-031-42971-2_9
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DOI: https://doi.org/10.1007/978-3-031-42971-2_9
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