Uniwersyteckie Czasopisma NaukoweDevelopment of decentralized finance and its impact on global financing structures
Słowa kluczowe:
decentralized finance, blockchain, cryptocurrency, Bitcoin, digital currencyAbstrakt
This article discusses decentralized finance, its development, and its impact on global financing structures. It elaborates on the changes that have occurred since the introduction of Bitcoin in 2009 and those due to the blockchain technology. Since Bitcoin, cryptocurrencies and blockchain technology have grown in popularity. Decentralized finance is a new revolution in the finance and payment structure sector, which has expanded in part because of the continued growth of the Internet and its association with social networking. The analysis compares the new financing structures with centralized, traditional financing structures, with banks being the primary flow regulators. Open data from the World Bank is used and a systematic literature review is conducted as the primary method. Decentralized finance threatens the existence of the Swiss financial center. The main driver of technological innovation is the Blockchain technology, which aims to revolutionize the global financial system. The steep rise of cryptocurrencies in recent years has made blockchain technology known, illustrating its economic implications for the banking system.
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