Decentralized Finance

Colin L. Read ()
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Colin L. Read: SUNY Plattsburgh

Chapter Chapter 18 in The Bitcoin Dilemma, 2022, pp 187-197 from Springer

Abstract: Abstract The innovation of digital cryptocurrencies was prophesized by blockchainSatoshiNakamoto, SatoshiNakamoto, Hatoshi to be a peer-to-peer method that may someday offer users a vast array of opportunities for digital financial transactions. On June 17 of, 2010, Satoshi posted to the bitcoin bulletin board a vision that “The design supports a tremendous variety of possible transaction types that I designed years ago. Escrow transactions, bonded contracts, third party arbitration, multi-party signature, etc. If bitcoin catches on in a big way, these are things we’ll want to explore in the future, but they all had to be designed at the beginning to make sure they would be possible later.” Such a vision that would bring many functions of banks and near banks to one’s computer or smartphone was revolutionary at the time, and is a natural evolution toward digitally denominated commerce.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-09138-4_18

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DOI: 10.1007/978-3-031-09138-4_18

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