The Emergence of Decentralized Business Models: Blockchain Interruption and Decentralized Finance

Abstract

Abstract: Blockchain technology has the ability to lower transaction costs, build distributed trust, and empower decentralised platforms, providing a foundation for new decentralised business models. Blockchain technology enables the growth of decentralised financial services in the financial industry, which are more decentralised, inventive, compatible, borderless, and transparent. Decentralized financial services, driven by blockchain technology, have the potential to expand financial inclusion, allow open access, stimulate permissionless innovation, and open new doors for entrepreneurs and innovators. In this paper, we examine the advantages of decentralised finance, as well as existing business models, obstacles, and limitations. Decentralized finance, as a new area of financial technology, has the potential to transform current finance and provide a new landscape for entrepreneurship and creativity, exhibiting the benefits and drawbacks of decentralised business models