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

Carlo R.W. De Meijer
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Carlo R.W. De Meijer: Director, MIFSA, The Netherlands

Journal of Securities Operations & Custody, 2022, vol. 14, issue 3, 231-241

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?.

Keywords: DeFi; CeFi; yield farming; DApps; Gen Z (search for similar items in EconPapers)
JEL-codes: E5 G2 K22 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:aza:jsoc00:y:2022:v:14:i:3:p:231-241

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