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DeFi and banks: Is this the end of traditional banking?

Author

Listed:
  • De Meijer, Carlo R.W.

    (Director, MIFSA, The Netherlands)

Abstract

The unregulated DeFi market has experienced remarkable growth in 2021. DeFi use cases bring a number of benefits and may remove a number of the shortcomings of the traditional financial ecosystem. Next to that the attitude of a growing group of new generation consumers is changing triggered by higher yields and the emergence of alternative digital and crypto assets. This paper attempts to answer a number of questions such as: what does DeFi mean for the traditional financial system?; should traditional financial institutions worry and why?; should they adapt to the new Defi environment?; what steps could be taken?; and finally, what will the new financial ecosystem look like?.

Suggested Citation

  • De Meijer, Carlo R.W., 2022. "DeFi and banks: Is this the end of traditional banking?," Journal of Securities Operations & Custody, Henry Stewart Publications, vol. 14(3), pages 231-241, August.
    • Handle: RePEc:aza:jsoc00:y:2022:v:14:i:3:p:231-241
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    More about this item

    Keywords

    DeFi; CeFi; yield farming; DApps; Gen Z;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • K22 - Law and Economics - - Regulation and Business Law - - - Business and Securities Law

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