Traversing Technological Vistas in Decentralized Finance

Abstract

Decentralized autonomous organizations (DAOs) represent a novel technology progress that could potentially challenge conventional organizations in terms of management and making choices. This chapter provides an introduction to decentralized finance (DeFi), situates DeFi within the framework of the conventional financial industry, establishes a connection of peer-to-peer transactions, and concludes with a discussion on policy implications. Decentralization has the capacity to weaken conventional mechanisms of accountability and diminish the efficacy of established financial regulations and enforcement. This study presents a thorough analysis of the current status of research on DAOs, highlighting the most important research areas and relevant works in the subject. Furthermore, it examines the performance of prominent decentralized finance in relation to these research areas, providing valuable observations on their real-world implementations and efficacy.