Decentralized Finance: The Future of Crypto and Open Finance?

Abstract

Abstract Chapter 13, “Decentralized Finance: The Future of Crypto and Open Finance” by Nic Carter, Partner at Castle Island Ventures, examines decentralized finance (DeFi) and how both cryptoassets and open banking are manifestations of the same DeFi movement. He identifies and dissects common features and objectives shared by both crypto finance and open banking. More intriguing, the author predicts that both phenomena will converge, and he explores the unknown potential of decentralized financing fully powered by blockchain technology (including cryptocurrency such as bitcoin and Dai) and what such an open finance future could look like.