Download or read book Essays in Decentralized Finance written by Luzius Meisser and published by . This book was released on 2024 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book DeFi Essays on Decentralized Finance written by Dr. Hemang Subramanian and published by Enterprof . This book was released on 2021-08-26 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book summarizes several industry happenings in the blockchain world. While the blockchain and cryptocurrency industry has grown leaps and bounds, within the past several years including newer forms of products that use decentralized finance, non-fungible tokens, smart contracts, etc. Overall, the decentralized finance (Defi) markets have grown to include protocols such as MakerDAO, Uniswap, wrapped tokens such as synthetics, etc. However, Non Fungible tokens create a large marketplace, giving digital art a unique and powerful outlet. Overall non-fungible tokens can be traded for other assets such as Ethereum, Bitcoin, etc. on public decentralized and centralized marketplaces. Overall, smart contracts provide a unique opportunity to enable different types of marketplaces that include financial assets and non-fungible tokens that include digital art and smart contract-based financial instruments.

Download or read book Decentralized Finance DeFi A financial revolution written by Alexander Haack and published by GRIN Verlag. This book was released on 2022-08-02 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bachelor Thesis from the year 2022 in the subject Economics - Finance, grade: 1,3, Hamburg University of Applied Sciences, course: International Management, language: English, abstract: Decentralized Finance (DeFi) is a rapidly growing topic which continuously gained in importance in recent times. With its blockchain based foundation and the use of smart contracts it aims to revolutionize the traditional financial system by making centralized intermediaries like banks redundant. The DeFi ecosystem includes stablecoins and Decentralized Applications (DApps) which intend to offer their users better financial services compared to traditional ones. Such financial services include but are not limited to decentralized exchange services, payment services as well as savings and loans services. Thus, DeFi must further eliminate certain risks like smart contract risks, scalability risks, oracle risks and governance risks. Moreover, DeFi needs to tackle the regulatory issues it entails to become mainstream and revolutionize the traditional financial system.

Download or read book Essays in Financial Economics written by Artem Neklyudov and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Decentralized Finance Explained written by IntroBooks Team and published by IntroBooks. This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Blockchain-built dApps, protocols, smart contracts, and digital assets are the key elements of decentralized finance. The Ethereum framework is the primary choice for the DeFi application considering the adaptability and the level of development, but that doesn't imply it's the only blockchain forum. DeFi is a development in the cryptocurrency industry, aimed at recreating conventional banking services without centralized technologies. Bitcoin itself is a prototypical illustration of DeFi; the majority of other cryptocurrencies depend on central organizers or issuers. DeFi is implemented via dApps, typically installed on either a blockchain such as Ethereum or a tangle such as IOTA. Decentralization suggests that there is no single point of failure since similar records are kept across a peer-to-peer network throughout a plethora of computers. Since it's unregulated, it is also available to all regardless of their income or where they stay. And, while a payment processing firm or a bank can close an unseemly customer's account, blockchains are immune to surveillance.

Download or read book The Power and Independence of the Federal Reserve written by Peter Conti-Brown and published by Princeton University Press. This book was released on 2017-10-10 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: An in-depth look at the history, leadership, and structure of the Federal Reserve Bank The independence of the Federal Reserve is considered a cornerstone of its identity, crucial for keeping monetary policy decisions free of electoral politics. But do we really understand what is meant by "Federal Reserve independence"? Using scores of examples from the Fed's rich history, The Power and Independence of the Federal Reserve shows that much common wisdom about the nation's central bank is inaccurate. Legal scholar and financial historian Peter Conti-Brown provides an in-depth look at the Fed's place in government, its internal governance structure, and its relationships to such individuals and groups as the president, Congress, economists, and bankers. Exploring how the Fed regulates the global economy and handles its own internal politics, and how the law does—and does not—define the Fed's power, Conti-Brown captures and clarifies the central bank's defining complexities. He examines the foundations of the Federal Reserve Act of 1913, which established a system of central banks, and the ways that subsequent generations have redefined the organization. Challenging the notion that the Fed Chair controls the organization as an all-powerful technocrat, he explains how institutions and individuals—within and outside of government—shape Fed policy. Conti-Brown demonstrates that the evolving mission of the Fed—including systemic risk regulation, wider bank supervision, and as a guardian against inflation and deflation—requires a reevaluation of the very way the nation's central bank is structured. Investigating how the Fed influences and is influenced by ideologies, personalities, law, and history, The Power and Independence of the Federal Reserve offers a uniquely clear and timely picture of one of the most important institutions in the United States and the world.

Download or read book Four Essays on Decentralized Markets in Management and Policy written by Adam L. Hayes and published by . This book was released on 2019 with total page 175 pages. Available in PDF, EPUB and Kindle. Book excerpt: Governments often create markets to serve management or policy goals. The creation of these markets requires developing the institutional capacity to disseminate market information in order for the market to achieve those goals more effectively. This dissertation draws on prior work regarding network information diffusion to examine the ways in which information brokers affect market function and outcomes in management and policy contexts. The first two chapters focus on the U.S. municipal bond market, which serves as the management context, and uses data on all U.S. municipal bond issues for 2004-2016. The first chapter develops a measure of network connectivity for financial advisors in the market, and shows through linear models under nearest-neighbor matching that these highly connected advisors are associated with reduced interest costs for local governments. The second chapter uses a choice model under state dependence to estimate how local governments' past advisor choices implicitly constrain their future choice sets. The results suggest state dependence could increase interest costs for local governments, particularly for those that have contracted with only one or two advisors in the past. Alaska halibut and sablefish individual quota fisheries serve as the policy context for chapters 3 and 4 with confidential quota transaction data from AKFIN as the primary data source. In chapter 3, network model simulation shows that quota brokers help traders access the broader market by trading outside of their immediate social network compared to trading without a broker, though there still exists some relationship between traders' social networks and trading patterns even for brokered trades. Brokers are also shown to increase sales price across many quota sub-markets. Chapter 4 develops a novel choice-based method for estimating willingness-to-pay for quota among subgroups. This method is then applied this model within a regression discontinuity design to test how a recent policy change affected resource valuation among key subgroups of interest.

Download or read book Decentralized Finance DeFi written by Cordelia Friesendorf and published by Springer Nature. This book was released on with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays on Decentralized Markets written by Kiatipong Ariyapruchya and published by . This book was released on 2004 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays on Empirical Asset Pricing and FinTech written by Amin Shams Moorkani and published by . This book was released on 2019 with total page 448 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation studies the determinants of return structure in the cross-section of cryptocurrencies as well as the time-series of market returns during the boom of 2017, the largest known price increase in the history of finance. The first chapter examines the cross-section of cryptocurrencies and hypothesizes and tests that, because of cryptocurrencies' unique features, common demand shocks should be the main driver of the covariance structure of cryptocurrency returns. I proxy for the degree of overlapping exposure to correlated demand shocks using a pairwise “connectivity” measure based on cryptocurrencies' trading locations. I find that this “connectivity” measure explains substantial covariation in the cross-section of cryptocurrency returns. Connected currencies exhibit substantial contemporaneous covariation. In addition, currencies connected to those that perform well outperform currencies connected to those that perform poorly by 71 basis points over the next day and 214 basis points over the next week. Evidence from new exchange listings and a quasi-natural experiment exploiting the shutdown of Chinese exchanges shows that the results cannot be explained by endogenous sorting of currencies into exchanges. Moreover, using machine learning techniques to analyze social media data, I find that the demand effects are 40 to 50% larger for currencies that rely more heavily on network externalities of user adoption. This amplified effect is consistent with the notion that demand for a cryptocurrency not only signals investment motives, but also can be perceived as user adoption that potentially affects the fundamental value of these assets. The second chapter examines the time-series of Bitcoin and the aggregate cryptocurrency returns during the boom of 2017. In particular, Bitcoin and other cryptocurrencies offer the promise of an anonymous, decentralized financial system free from banks and government intervention. Ironically, new large entities have gained centralized control over the vast majority of operations in the cryptocurrency world. One type of these large centralized entities is stable coin issuers who can act as a central bank in the crypto world by controlling the supply of money. This chapter examines the role of the largest stable coin, Tether, on Bitcoin and other cryptocurrency prices. Using algorithms to analyze blockchain data, we find that purchases with Tether are timed following market downturns and result in sizable increases in Bitcoin prices. The flow is attributable to one entity, clusters below round prices, induces asymmetric autocorrelations in Bitcoin, and suggests insufficient Tether reserves before month-ends. Rather than demand from cash investors, these patterns are most consistent with the supply-based hypothesis of unbacked digital money inflating cryptocurrency prices

Download or read book CRYPTOCURRENCY DEFI GUIDEBOOK 2021 written by Teddy Foster and published by Antonino Fiorentino. This book was released on 2021-11-07 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: Decentralized finance is currently one of the blockchain and cryptocurrency space's fastest-growing sectors. Defi has grown rapidly in the last year, but materials to help people understand the concept have lagged. Defi is a network of Decentralized Applications (Dapps) that offer financial services via dispersed networks without the need for a central authority. Because the majority of the Defi Dapps currently being developed are on the Ethereum blockchain, we will focus on Defi for the purposes of this book. In 2019 and 2020, Defi has been a major theme in Ethereum's development. Defi Dapps had amassed more than $1 billion in cryptocurrency at the time of writing. Defi is expected to expand further in the coming years and is critical in realizing Ethereum's lofty vision and ambition. Defi has grown at an unprecedented rate. In fact, the speed at which new concepts and innovations arrive is so dramatic that veterans and beginners alike fail with keeping up and understanding its ever-growing importance. As with any other subject, information overload is very likely unless we approach the right data structured, intuitive, and progressive. This book is written for beginners who are familiar with basic blockchain and crypto concepts but have not yet dared to tread into the world of decentralized finance. This book carefully explains every facet of Defi while emphasizing its use cases, features, and platforms. The majority of this book revolves around comprehending specific and popular use cases to understand decentralized finance through practical knowledge. By covering decentralized exchanges, yield farming, lending, derivatives, stablecoins, insurance, and other topics, you will become capable of knowing how Defi works at the level of an experienced user.

Download or read book DeFi and the Future of Finance written by Campbell R. Harvey and published by John Wiley & Sons. This book was released on 2021-08-24 with total page 217 pages. Available in PDF, EPUB and Kindle. Book excerpt: During the Global Financial Crisis in 2008, our financial infrastructure failed. Governments bailed out the very institutions that let the economy down. This episode spurred a serious rethink of our financial system. Does it make any sense that it takes two days to settle a stock transaction? Why do retailers, operating on razor thin margins, have to pay 3% for every customer credit card swipe? Why does it take two days to transfer money from a bank account to a brokerage—or any other company? Why are savings rates miniscule or negative? Why is it so difficult for entrepreneurs to get financing at traditional banks? In DeFi and the Future of Finance, Campbell R. Harvey, Ashwin Ramachandran and Joey Santoro, introduce the new world of Decentralized Finance. The book argues that the current financial landscape is ripe for disruption and we are seeing, in real time, the reinvention of finance. The authors provide the reader with a clear assessment of the problems with the current financial system and how DeFi solves many of these problems. The essence of DeFi is that we interact with peers—there is no brick and mortar and all of the associated costs. Savings and lending are reinvented. Trading takes place with algorithms far removed from traditional brokerages. The book conducts a deep dive on some of the most innovative protocols such as Uniswap and Compound. Many of the companies featured in the book you might not have heard of—however, you will in the future. As with any new technology, there are a myriad of risks and the authors carefully catalogue these risks and assess which ones can be successfully mitigated. Ideally suited for people working in any part of the finance industry as well as financial policy makers, DeFi and the Future of Finance gives readers a vision of the future. The world of finance will fundamentally be changed over the coming decade. The book enables you to become part of the disruption – not the target of the disruption.

Download or read book Cryptocurrencies and Decentralized Finance DeFi written by Igor Makarov and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper provides an overview of cryptocurrencies and decentralized finance. The discussion lays out potential benefits and challenges of the new system and presents a comparison to the traditional system of financial intermediation. Our analysis highlights that while the DeFi architecture might have the potential to reduce transaction costs, similar to the traditional financial system, there are several layers where rents can accumulate due to endogenous constraints to competition. We show that the permissionless and pseudonymous design of DeFi generates challenges for enforcing tax compliance, anti-money laundering laws, and preventing financial malfeasance. We highlight ways to regulate the DeFi system which would preserve a majority of benefits of the underlying blockchain architecture but support accountability and regulatory compliance.

Download or read book Decentralized Finance written by Yan Chen and published by . This book was released on 2019 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: Blockchain technology can reduce transaction costs, facilitate decentralized platforms, and produce distributed trust, creating a foundation for new business models. In the financial industry, blockchain technology allows for the rise of decentralized financial services that may be more decentralized, innovative, interoperable, borderless, and transparent. Decentralized financial services have the potential to reduce transaction costs, broaden financial inclusion, facilitate open access, encourage permissionless innovation, and create new opportunities for entrepreneurs and innovators. In this article, we assess the benefits of decentralized finance, identify existing business models, and evaluate potential challenges and limits. As a new area of financial technology, decentralized finance may reshape the structure of modern finance and create a new landscape for entrepreneurship and innovation, showcasing the potential of decentralization as a foundation for new business models.

Download or read book The Theory of Money and Financial Institutions written by Martin Shubik and published by MIT Press. This book was released on 1999 with total page 472 pages. Available in PDF, EPUB and Kindle. Book excerpt: This first volume in a three-volume exposition of Shubik's vision of "mathematical institutional economics" explores a one-period approach to economic exchange with money, debt, and bankruptcy. This is the first volume in a three-volume exposition of Martin Shubik's vision of "mathematical institutional economics"--a term he coined in 1959 to describe the theoretical underpinnings needed for the construction of an economic dynamics. The goal is to develop a process-oriented theory of money and financial institutions that reconciles micro- and macroeconomics, using as a prime tool the theory of games in strategic and extensive form. The approach involves a search for minimal financial institutions that appear as a logical, technological, and institutional necessity, as part of the "rules of the game." Money and financial institutions are assumed to be the basic elements of the network that transmits the sociopolitical imperatives to the economy. Volume 1 deals with a one-period approach to economic exchange with money, debt, and bankruptcy. Volume 2 explores the new economic features that arise when we consider multi-period finite and infinite horizon economies. Volume 3 will consider the specific role of financial institutions and government, and formulate the economic financial control problem linking micro- and macroeconomics.

Download or read book Blockchain Technology in Finance and Accounting Essays on Initial Coin Offerings Crypto Assets and Corporate Use Cases written by Stephan Romeike and published by . This book was released on 2021 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Elgar Companion to Decentralized Finance Digital Assets and Blockchain Technologies written by Henrik Cronqvist and published by Edward Elgar Publishing. This book was released on 2024-06-05 with total page 361 pages. Available in PDF, EPUB and Kindle. Book excerpt: This timely Companion offers keen insights into the challenges of valuing digital versus traditional assets, exploring how behavioural and social traits, states and actions can cause biased perspectives in over- or underestimating the value of digital assets. Innovative and comprehensive, the Companion first provides an overview of how decentralization can impact existing financial systems before delving into exploring decentralized lending and predicting the role of digital assets in future payments.