BIS paper 2023: The Technology of Decentralized Finance (DeFi)

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The Bank for International Settlements (BIS) has published a new paper on „The Technology of Decentralized Finance (DeFi)“. By the way: The BIS opened for business in 1930 in Basel, Switzerland.

Summary

“Decentralized Finance (DeFi) is a new financial paradigm that leverages distributed ledger technologies to offer services such as lending, investing, or exchanging cryptoassets without relying on a traditional centralized intermediary. A range of DeFi protocols implements these services as a suite of smart contracts, ie software programs that encode the logic of conventional financial operations.”

[1]
R. Auer, B. Haslhofer, S. Kitzler, P. Saggese, und F. Victor, „The Technology of Decentralized Finance (DeFi)“, Jan. 2023,  Verfügbar unter: https://www.bis.org/publ/work1066.htm