2021
DOI: 10.1051/shsconf/202112903008
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Decentralized finance

Abstract: Research background: Its simplest form, decentralized finance is a system by which financial products become available on a public decentralized blockchain network, making them open to anyone to use, rather than going through middlemen like banks or brokerages. Unlike a bank or brokerage account, a government-issued ID, Social Security number, or proof of address are not necessary to use DeFi. Purpose of the article: The aim of the contribution is more specifically, DeFi refers to a system by which software wr… Show more

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(1 citation statement)
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“…Unlike a bank or brokerage account, DeFi does not require a government-issued ID, Social Security number, or proof of address. DeFi refers to a system in which buyers, sellers, lenders, and borrowers connect peer to peer or with a strictly software-based middleman rather than a firm or organization conducting a transaction using software developed on blockchains [43]. To achieve the goal of decentralization, a variety of technologies and protocols are employed.…”
Section: Decentralized Financementioning
confidence: 99%
“…Unlike a bank or brokerage account, DeFi does not require a government-issued ID, Social Security number, or proof of address. DeFi refers to a system in which buyers, sellers, lenders, and borrowers connect peer to peer or with a strictly software-based middleman rather than a firm or organization conducting a transaction using software developed on blockchains [43]. To achieve the goal of decentralization, a variety of technologies and protocols are employed.…”
Section: Decentralized Financementioning
confidence: 99%