DeFi and the Future of Finance. Campbell R. Harvey
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Название: DeFi and the Future of Finance

Автор: Campbell R. Harvey

Издательство: John Wiley & Sons Limited

Жанр: Маркетинг, PR, реклама

Серия:

isbn: 9781119836025

isbn:

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       Campbell R. HarveyAshwin RamachandranJoey Santoro

      Published by John Wiley & Sons, Inc., Hoboken, New Jersey.

      Published simultaneously in Canada.

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       Library of Congress Cataloging-in-Publication Data is Available:

      ISBN 9781119836018 (Hardcover)

      ISBN 9781119836032 (ePDF)

      ISBN 9781119836025 (ePub)

      COVER DESIGN: PAUL MCCARTHY

      COVER IMAGES: GETTY IMAGES: © TUOMAS LEHTINEN

      DeFi is a cute acronym for “decentralized finance,” but it obfuscates its true potential: a new financial system built from the ground up. While DeFi is small today—containing, as of this writing, tens of billions of dollars in assets relative to the hundreds of trillions in the traditional financial system—it is growing rapidly. And while its rise will take decades, I believe DeFi will be the primary financial system of the world.

      Why? DeFi is a true “internet of money.” The internet showed the power of a universal, open network for information. In 40 years the idea of a similarly open, global network for value transfer will seem obvious, which makes this a truth hiding in plain sight today.

      Yet so little of the infrastructure of this ecosystem has been built. We are perhaps 1 percent, likely less, into DeFi as a phenomenon. A burgeoning ecosystem of developers around the world is currently constructing the financial building blocks of tomorrow. At our crypto investment firm Paradigm, we often ask ourselves, “If there were a periodic table of financial primitives, what has been built today and what is left to fill in?” That is the opportunity for entrepreneurs.

      DeFi, like the internet, will likely make financial services cheaper, faster, secure, personalized, and more. If YouTube grew the breadth of video content by orders of magnitude because it was free and easy for anyone to both create and use videos, what will DeFi do for financial products as it similarly allows anyone to create and use anything at near-zero cost?

      That future has yet to be written. This book provides a peek into that future, and you, the reader, hold the power to create it.

      Fred СКАЧАТЬ