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Decentralised finance, its prospects and limits: Is blockchain interoperability the only obstacle?

In: CNB Global Economic Outlook - July 2021

Author

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  • Alexis Derviz
Abstract
Decentralised finance (DeFi) refers to financial products and services that operate on permissionless blockchains in the cyberspace independently of official legal and regulatory institutions and in disregard of state borders. Since a blockchain was originally meant to be the exclusive operational domain of its user community, facilitating inter-blockchain interaction is the immediate question to be resolved if one wants to make DeFi a meaningful global alternative to traditional finance. In the process of answering this question, one discovers challenges to DeFi deployment that extend well beyond pure technological interoperability.

Suggested Citation

  • Alexis Derviz, 2021. "Decentralised finance, its prospects and limits: Is blockchain interoperability the only obstacle?," Occasional Publications - Chapters in Edited Volumes, in: CNB Global Economic Outlook - July 2021, pages 13-17, Czech National Bank.
  • Handle: RePEc:cnb:ocpubc:geo2021/7
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    File URL: https://www.cnb.cz/export/sites/cnb/en/monetary-policy/.galleries/geo/geo_2021/gev_2021_07_en.pdf
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    References listed on IDEAS

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    1. repec:cnb:ocpubc:geo2019/8 is not listed on IDEAS
    2. repec:cnb:ocpubc:geo2020/3 is not listed on IDEAS
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    Cited by:

    1. Vincent Gramlich & Tobias Guggenberger & Marc Principato & Benjamin Schellinger & Nils Urbach, 2023. "A multivocal literature review of decentralized finance: Current knowledge and future research avenues," Electronic Markets, Springer;IIM University of St. Gallen, vol. 33(1), pages 1-37, December.

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