Kooperativer Bibliotheksverbund

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Umfang: 1 Online-Ressource (273 Seiten)

Ausgabe: 1st ed

ISBN: 9781394154999

Anmerkung: Description based on publisher supplied metadata and other sources , Cover Page -- Title Page -- Copyright Page -- Contents -- Acknowledgments -- Glossary -- Foreword -- Introduction -- I.1 Who Am I? -- I.2 How This Book Is Organized -- I.3 Scope of This Book -- I.3.1 In Scope -- I.3.2 Out of Scope -- I.4 Disclaimers -- I.5 Corrections -- Part I Crypto-native DeFi -- Chapter 1 What Is DeFi? -- 1.1 The Role of Intermediaries in TradFi -- 1.2 Definitions -- 1.3 Other Characteristics of DeFi -- 1.3.1 Interoperability / Composability -- 1.3.2 Transparency -- 1.3.3 Openness -- 1.3.4 Decentralized / Peer-to-peer -- 1.3.5 Unregulated -- 1.4 The DeFi Stack -- 1.5 Size of DeFi -- 1.6 Key Participants in DeFi -- 1.6.1 Developers and Entrepreneurs -- 1.6.2 Institutions -- 1.7 DeFi and FinTech -- 1.8 How Can I Try DeFi? -- 1.9 Where Does DeFi Meet TradFi? -- 1.9.1 Stablecoins -- 1.9.2 Central Bank Digital Currencies (CBDCs) -- 1.9.3 Real World Assets (RWA) and Tokenized Assets -- 1.9.4 Permissioned DeFi -- 1.10 What are the Risks of DeFi? -- 1.11 Chapter Summary -- Notes -- Chapter 2 Infrastructure and Instruments -- 2.1 The Infrastructure of DeFi -- 2.2 Basics of Blockchains -- 2.2.1 Components of Blockchains -- 2.2.2 Cryptography -- 2.2.3 Hash Functions -- 2.2.4 Public-key Cryptography and Digital Signatures -- 2.3 Bitcoin and Ethereum -- 2.4 Permissioned vs Public Blockchains -- 2.5 L1s and L2s -- 2.6 Accounts, Keys, Wallets, and Addresses -- 2.6.1 Accounts -- 2.6.2 Keys -- 2.6.3 Wallets -- 2.6.4 Addresses -- 2.7 Transactions -- 2.7.1 Block-by-block Settlement -- 2.7.2 Irrevocable -- 2.7.3 Composable -- 2.7.4 Atomic -- 2.7.5 Gas -- 2.7.6 Mempool / MEV -- 2.8 Smart Contracts -- 2.9 Clients and Nodes -- 2.10 Block Explorers -- 2.11 Custody -- 2.12 Oracles -- 2.13 RegTech -- 2.14 Identity -- 2.15 Bridges -- 2.16 DeFi Instruments -- 2.17 Stablecoins -- 2.18 Derivatives -- 2.19 Chapter Summary -- Notes , Chapter 3 Activities and Applications -- 3.1 Trading / DEXs -- 3.1.1 Automated Market Makers (AMMs) -- 3.1.2 Aggregators -- 3.2 Overcollateralized Lending / Borrowing -- 3.3 Governance / DAOs -- 3.4 Undercollateralized Lending -- 3.4.1 Uncollateralized Lending to Real-world Borrowers -- 3.4.2 Uncollateralized Lending to Crypto Institutions -- 3.4.3 Real World Assets -- 3.4.4 Centrifuge -- 3.4.5 MakerDAO and RWA -- 3.4.6 SocGen Pilots and MakerDAO Collaboration -- 3.4.7 Smart Bonds -- 3.4.8 Credit Scoring -- 3.5 Investing -- 3.5.1 Index Products - Spot -- 3.5.2 Index Products - Perpetual Futures -- 3.5.3 Dashboards -- 3.6 Payments -- 3.6.1 Crypto Payment Gateways -- 3.6.2 Big Payments and Crypto -- 3.6.3 Crypto Debit / Credit Cards -- 3.6.4 On-off Ramps -- 3.6.5 Solana Pay and Circle -- 3.6.6 Bitcoin Payments -- 3.7 Insurance -- 3.8 Prediction Markets -- 3.9 Chapter Summary -- Notes -- Chapter 4 Risks and Mitigation -- 4.1 Types of Losses -- 4.2 Basic Terminology -- 4.3 Endogenous DeFi Risks -- 4.3.1 Smart Contract Risks: Code Exploit Example: The DAO Hack -- 4.3.2 Economic Exploit Example: Mango Markets -- 4.3.3 Operational Exploit Example: Ronin Bridge Hack -- 4.3.4 CeFi Contagion / Systemic Risk -- 4.4 Exogenous DeFi Risks -- 4.4.1 Financial Stability -- 4.4.2 Pronounced Risks in Developing Countries -- 4.4.3 Banking-to-Crypto Concentration Risks -- 4.4.4 Stablecoins -- 4.4.5 Market Integrity -- 4.4.6 Frontrunning -- 4.4.7 Market Manipulation -- 4.4.8 Money Laundering, Funding of Illicit Activity and Terrorism -- 4.4.9 Consumer Protection -- 4.4.10 Disclosure, or the Lack Thereof -- 4.4.11 Data Protection -- 4.5 Chapter Summary -- Notes -- Chapter 5 Regulation -- 5.1 Introduction -- 5.2 Global Nature of Crypto and DeFi -- 5.2.1 How this Chapter Is Organized -- 5.3 What Regulators Want -- 5.4 Are Tokens Securities? -- 5.5 The Travel Rule , 5.6 Prudential Treatment of Crypto-asset Exposures -- 5.7 SSBs, United States and European Union -- 5.7.1 BCBS: Prudential Treatment on Banks' Crypto-asset Exposures -- 5.7.2 CPMI - IOSCO: PFMI and Stablecoins -- 5.7.3 IOSCO -- 5.7.4 FATF - AML / CFT -- 5.7.5 Survey of Jurisdictions on the State of Crypto-asset Regulation -- 5.8 European Union - MiCA -- 5.9 United States -- 5.10 DeFi Specific Regulation -- 5.10.1 DEXs -- 5.10.2 Stablecoins -- 5.11 Chapter Summary -- Notes -- Part II DLT in Traditional Finance -- Chapter 6 Central Bank Digital Currencies -- 6.1 Introduction -- 6.2 Prologue: Libra -- 6.3 Role of the Central Bank -- 6.4 Structure of the Monetary System and a View Towards the Future -- 6.5 Central Bank Motivations and Considerations around CBDCs -- 6.6 Retail vs Wholesale CBDCs -- 6.7 Wholesale CBDCs -- 6.7.1 Domestic W-CBDCs -- 6.7.2 Bilateral W-CBDCs -- 6.7.3 Multilateral CBDCs (mCBDCs) -- 6.8 Case Study: Project mBridge -- 6.9 Retail CBDCs -- 6.10 Benefits and Risks of R-CBDCs -- 6.11 R-CBDC Design Choices -- 6.11.1 Nature of Claims and Role of the Central Bank -- 6.11.2 DLT or Conventional Centralized Ledger -- 6.11.3 Token- or Account-based Access -- 6.11.4 Cross-border -- 6.11.5 Holding and Transaction Limits -- 6.11.6 Interest Yielding -- 6.12 Types of R-CBDCs -- 6.12.1 Direct -- 6.12.2 Two-tier Models: Hybrid and Intermediated -- 6.12.3 Indirect / Synthetic -- 6.13 Examples of R-CBDCs -- 6.14 Case Study: Nigerian eNaira -- 6.15 Case Study: United States -- 6.16 Case Study: eCNY -- 6.17 Chapter Summary -- Notes -- Chapter 7 Asset Tokenization -- 7.1 What Is Asset Tokenization? -- 7.2 Benefits of Asset Tokenization -- 7.2.1 Efficiency Gains Due to Automation and Disintermediation -- 7.2.2 Enhanced Resilience -- 7.2.3 Transparency -- 7.2.4 Fractional Ownership -- 7.2.5 International Reach and Direct Access , 7.3 How is Tokenization Performed? -- 7.4 Considerations for Tokenization -- 7.5 DLT in Capital Markets -- 7.5.1 Primary Markets -- 7.5.2 Secondary Markets -- 7.5.3 Clearing and Settlement -- 7.5.4 Custody -- 7.6 Asset Servicing -- 7.6.1 Corporate Actions -- 7.6.2 Tax Withholding -- 7.6.3 Regulatory Reporting -- 7.7 Chapter Summary -- Notes -- Chapter 8 Deposit Tokens -- 8.1 What Are Deposit Tokens? -- 8.2 Benefits of Deposit Tokens -- 8.3 Deposit Token Projects -- 8.3.1 Regulated Liability Network (RLN) -- 8.3.2 Onyx by JP Morgan -- 8.3.3 German Banking Industry Committee -- 8.3.4 Swiss Banker's Association (SBA) -- 8.3.5 Other projects -- 8.4 Chapter Summary -- Notes -- Chapter 9 Institutional DeFi -- 9.1 Considerations for Institutions to Participate in DeFi -- 9.2 Institutional DeFi Examples -- 9.3 AMMs and FX -- 9.4 Considerations for AMMs and Tokenized Assets -- 9.5 Unified Ledger -- 9.6 Chapter Summary -- Notes -- Chapter 10 Conclusion -- 10.1 The Crypto-Fiat Innovation Dialectic -- 10.1.1 From Bitcoin to CBDCs -- 10.1.2 Can DeFi Advance Financial Inclusion? -- 10.1.3 DeFi as Global FinTech Sandbox -- 10.1.4 Cybersecurity -- 10.1.5 Moving Forward with Synthesis -- 10.2 Future Scenarios for DeFi: The Wild West, the Citadel, and the Bazaar -- 10.2.1 Path 1: Crypto-native DeFi / "Wild West" -- 10.2.2 Path 2: DLT-enabled TradFi / "Citadel" -- 10.2.3 Path 3: Crossover DeFi / "Bazaar" -- 10.3 The Future of Money -- Notes -- Bibliography and Online Resources -- Index -- EULA.

Weitere Ausg.: Erscheint auch als Druck-Ausgabe Bok, Kenneth Decentralizing Finance Newark : John Wiley & Sons, Incorporated,c2023 ISBN 9781394154975

Sprache: Englisch

Fachgebiete: Wirtschaftswissenschaften

Schlagwort(e): Finanztechnologie ; Virtuelle Währung

UID:

Umfang: 1 Online-Ressource (xviii, 252 pages) , illustrations (chiefly color)

ISBN: 9781394154982 , 1394154984 , 9781394154999 , 1394154992

Inhalt: "The book examines the current state of DeFi, insofar as the aims of creating a more efficient, interoperable and inclusive financial system are concerned. Many of the goals of FinTech and Open Banking are similar to DeFi and are directly relevant to DeFi. What is also now directly relevant to the evolution of DeFi is the broader evolution of Web3 and the Metaverse. NFTs look to play a larger role in the ownership layer of the Metaverse, with DeFi as the main mechanism for price discovery and trading of digital assets and virtual goods. What stands in the way of these aspirational goals? How can the risks and challenges be overcome? The book takes a close look at examples that incorporate key elements of traditional finance such as Know Your Customer rules (KYC), operational and risk control measures, and general ability to interface with the wider banking ecosystem. It attempts to chart the trajectory of this innovation and where challenges and risks lie towards the synthesis of the future"--

Anmerkung: Includes bibliographical references and index

Weitere Ausg.: ISBN 9781394154975

Weitere Ausg.: Erscheint auch als Druck-Ausgabe Bok, Kenneth Decentralizing finance Hoboken, NJ, USA : Wiley, 2024 ISBN 9781394154975

Sprache: Englisch

URL: lizenzpflichtig

UID:

Umfang: xviii, 252 Seiten : , Illustrationen, Diagramme.

Ausgabe: First edition

ISBN: 978-1-394-15497-5

Anmerkung: Includes bibliographical references and index

Weitere Ausg.: Erscheint auch als Online-Ausgabe, PDF ISBN 978-1-394-15498-2

Weitere Ausg.: Erscheint auch als Online-Ausgabe, EPUB ISBN 978-1-394-15499-9

Sprache: Englisch

Fachgebiete: Wirtschaftswissenschaften , Rechtswissenschaft

Schlagwort(e): Finanztechnologie ; Virtuelle Währung