LEADER 08409nam 22006975 450 001 9910742485503321 005 20230826135905.0 010 $a3-031-37488-6 024 7 $a10.1007/978-3-031-37488-3 035 $a(MiAaPQ)EBC30721648 035 $a(Au-PeEL)EBL30721648 035 $a(DE-He213)978-3-031-37488-3 035 $a(PPN)272268526 035 $a(EXLCZ)9928062197200041 100 $a20230826d2023 u| 0 101 0 $aeng 135 $aurcnu|||||||| 181 $ctxt$2rdacontent 182 $cc$2rdamedia 183 $acr$2rdacarrier 200 10$aDecentralized Finance (DeFi)$b[electronic resource] $eHow Decentralized Applications (dApps) Disrupt Banking /$fby Cordelia Friesendorf, Alena Blütener 205 $a1st ed. 2023. 210 1$aCham :$cSpringer Nature Switzerland :$cImprint: Springer,$d2023. 215 $a1 online resource (116 pages) 225 1 $aBusiness Guides on the Go,$x2731-4766 311 08$aPrint version: Friesendorf, Cordelia Decentralized Finance (DeFi) Cham : Springer,c2023 9783031374876 327 $aIntro -- Contents -- Chapter 1: Decentralized Finance: How dApps Disrupt Banking -- 1.1 Loss of Trust in Banking -- 1.1.1 Rethink and Innovation -- 1.1.2 Democratization of Global Banking -- 1.1.3 Motivation and Plan of the Book -- References -- Chapter 2: Centralized Finance -- 2.1 The Evolution of Banking in Europe -- 2.2 Trust as a Store of Value -- 2.3 The Institutionalization of Trust -- 2.4 Banking License Types -- 2.4.1 E-Money Licenses -- 2.4.2 Fintech License -- 2.4.3 Extended License -- 2.4.4 Traditional License -- 2.5 Banking License Criteria -- 2.5.1 Initial Capital -- 2.5.2 Business Plan -- 2.5.3 Requirements for Managing Directors -- 2.5.4 Requirements for the Holders of Qualifying Holdings -- 2.6 Bank Categories, Business Models, and Products -- 2.6.1 Global Banking -- 2.6.2 Private Banking/Wealth Management -- 2.6.3 Investment Banking -- 2.6.4 Retail/Consumer Banking -- 2.6.5 Corporate Banking -- 2.6.6 Bulge Brackets -- 2.6.7 Middle Market -- 2.6.8 Elite Boutique -- 2.6.9 Regional or Industry Boutiques -- 2.7 Banking Competition in Retail Markets -- References -- Chapter 3: Decentralized Finance: Concept and Characteristics -- 3.1 Features of Decentralized Finance -- 3.1.1 Decentralized Applications (dApps) -- 3.1.2 Total Value Locked -- 3.1.2.1 Centralized -- 3.1.2.2 Semi-Decentralized -- 3.1.2.3 Fully Decentralized -- 3.1.3 Accessibility and Market Expansion -- 3.1.4 Remittance Convenience -- 3.1.5 Security via Transparency -- References -- Chapter 4: Decentralized Finance: Technical Basis -- 4.1 Blockchain as Centrifugal Technology -- 4.1.1 Distributed Ledger Technology -- 4.1.2 Non-fungible Tokes -- 4.2 Ethereum's Robust Complementarity -- 4.2.1 Solidity and Ether -- 4.2.2 Gas Fee Pricing Model -- 4.2.3 Decentralized Autonomous Organization -- 4.3 Smart Contract Efficiency -- References. 327 $aChapter 5: Decentralized Finance: Categories -- 5.1 Decentralized Stablecoins -- 5.2 Decentralized Derivatives -- 5.2.1 Future -- 5.2.2 Forwards -- 5.2.3 Options -- 5.2.4 Swaps -- 5.3 Decentralized Payments -- 5.4 Decentralized Lending and Borrowing -- 5.5 Decentralized Exchange -- 5.6 Decentralized Wealth Management -- 5.7 Decentralized Lotteries -- 5.8 Decentralized Insurance -- References -- Chapter 6: Decentralized Finance: Safety and Security -- 6.1 Financial Risks -- 6.2 Technology Risks -- 6.3 Procedural Risks -- 6.4 Regulatory Risks -- References -- Chapter 7: Decentralized Finance: Regulation -- 7.1 Financial Action Task Force (FATF) -- 7.2 Markets in Crypto Assets -- 7.3 Environment, Social, and Governance (ESG) -- 7.4 Regulatory Transformation -- References -- Chapter 8: Comparison of Centralized and Decentralized Finance -- 8.1 Criterion-Based Tabular Comparison -- 8.2 Scope of Differences -- References -- Chapter 9: Decentralized Finance: Use-Cases -- 9.1 Decentralized Stablecoins -- 9.1.1 Custodial Stablecoins -- 9.1.2 Asset-Backed Stablecoins -- 9.1.3 Algorithmic Stablecoins -- 9.2 Decentralized Exchanges -- 9.3 Decentralized Credit -- 9.4 Decentralized Derivatives -- 9.5 Decentralized Insurance -- 9.6 Decentralized Asset Management -- References -- Chapter 10: Decentralized Finance: Empirical Analysis of Customer Willingness -- 10.1 Appraisal of the Qualitative Approach -- 10.2 Hypothesis-Building and Validation -- 10.3 Survey Questions and Results -- 10.3.1 Customer Age Demographics -- 10.3.2 Generational Satisfaction with Their Bank -- 10.3.3 Bank Recommendation Tendency -- 10.3.4 Reasons for Not Recommending Their Bank -- 10.3.5 Environment, Social, and Governance (ESG) Impact -- 10.3.6 The Value of Sustainability as Progressive or Futuristic -- 10.3.7 Customer as Investor -- 10.3.8 Investment Preferences and Behaviors. 327 $a10.3.9 Zero-Switching Costs Scenario -- 10.3.10 Green Pressure on Banks in Germany -- 10.3.11 Inclination to Cryptocurrency Investments -- 10.3.12 Place of Bitcoin -- References -- Chapter 11: Discussion and Conclusion -- 11.1 Learnings and Implications -- 11.1.1 Transparency Builds Trust -- 11.1.2 Closing the Banking vs. Unbanked People Gap -- 11.1.3 ESG: Toward a Greener and Fairer World -- 11.1.4 Enhancing Digital Trust -- 11.1.5 DeFi Creates Low-Cost Entry -- 11.1.6 Need for Advanced DLT Solutions -- 11.1.7 Increasing Financial Inclusiveness -- 11.1.8 Growth-Supportive Regulation -- 11.1.9 Interoperability and Standardization -- 11.1.10 Increased Accountability in Decision-Making -- 11.1.11 Diversity of Ideas and Creativity -- 11.1.12 Elimination of the Middleman -- 11.1.13 Market Transition -- 11.1.14 Ownership and Control -- 11.1.15 Auditability -- 11.2 Strategic Agility: Incumbent Positioning of Banks -- 11.2.1 Operational Versus Strategic Agility -- 11.2.2 Internal Change Management -- 11.2.3 Digital Portfolio in Wealth Products -- 11.2.4 Digital Identity Products as an Opportunity -- 11.3 Recent Developments and Future Outlook -- 11.4 Conclusion -- References. 330 $aThis book explores how decentralized finance (DeFi) can disrupt traditional centralized finance including the business areas of insurance companies, banks, money markets, and bonds. DeFi is not a company or a single product, rather it is a collection of products or services. As part of the Ethereum ecosystem, DeFi services are provided as Decentralized Applications (dApps), which require smart contracts to lock in assets for processing transactions. Changing consumer expectations, the availability of affordable technologies, and entrepreneurial drive create space for DeFi. Geopolitical crises and trust deterioration exacerbate the need. This book explains the concept of DeFi, the technological opportunities, the current reality and status quo of business transactions, and demonstrates the potential for future use and the eventual transformation of the financial industry. It further provides a comprehensive analysis of the real-world applications of DeFi, the Decentralized Ledger Technology (DLT), and digital assets, as well as their potential risks to consumers and financial institutions to bankers, managers, investors, and policymakers. 410 0$aBusiness Guides on the Go,$x2731-4766 606 $aFinancial engineering 606 $aFinancial services industry 606 $aBusiness information services 606 $aCapital market 606 $aTechnological innovations 606 $aFinancial Technology and Innovation 606 $aFinancial Services 606 $aIT in Business 606 $aCapital Markets 606 $aInnovation and Technology Management 615 0$aFinancial engineering. 615 0$aFinancial services industry. 615 0$aBusiness information services. 615 0$aCapital market. 615 0$aTechnological innovations. 615 14$aFinancial Technology and Innovation. 615 24$aFinancial Services. 615 24$aIT in Business. 615 24$aCapital Markets. 615 24$aInnovation and Technology Management. 676 $a332.0285574 700 $aFriesendorf$b Cordelia$01373353 701 $aBlütener$b Alena$01425562 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910742485503321 996 $aDecentralized Finance (DeFi)$93555974 997 $aUNINA