Innovation in Business Models in Decentralized Finance (DeFi): Co-creation, Open Innovation, and the Tensions of Information Capitalism 4.0 in the Technology Sector.

Abstract

This paper analyzes the reconfiguration of business models in the Decentralized Finance (DeFi) ecosystem under the aegis of informational capitalism 4.0.It investigates the paradigmatic transition from restricted innovation to models of open innovation and algorithm-mediated co-creation, based on a new regime of mathematical trust.From a socio-technological perspective, it discusses the tensions between protocol autonomy and state regulation, identifying the challenges that algorithmic governance and social datafication pose to monetary sovereignty and ethics in the technology sector.It is concluded that the success of DeFi depends on the balance between radical decentralization and governance mechanisms that prevent the concentration of power, especially in the context of Latin American development.