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DeFi and banks: Is this the end of traditional banking?
Journal of Securities Operations & Custody,
14
(3),
231-241
(2022)
Abstract
The unregulated DeFi market has experienced remarkable growth in 2021. DeFi use cases bring a number of benefits and may remove a number of the shortcomings of the traditional financial ecosystem. Next to that the attitude of a growing group of new generation consumers is changing triggered by higher yields and the emergence of alternative digital and crypto assets. This paper attempts to answer a number of questions such as: what does DeFi mean for the traditional financial system?; should traditional financial institutions worry and why?; should they adapt to the new Defi environment?; what steps could be taken?; and finally, what will the new financial ecosystem look like?.
Keywords: DeFi; CeFi; yield farming; DApps; Gen Z
The full article is available to subscribers to the journal.
Author's Biography
Carlo R.W. De Meijer is the founder of MIFSA (De Meijer Financial Services Advisory 2016), an independent advisory start-up on blockchain and related issues. He is an independent economist and researcher. He studied economics at the University of Tilburg (The Netherlands) where he received a Master's degree (cum laude) in international economics in 1977. During his career of almost 40 years he worked at ABN, ABN AMRO and Royal Bank of Scotland. Carlo has held many posts as a senior economist, private investment adviser and researcher. Until October 2015 he worked at the Market Engagement Department of Services Payments at the Royal Bank of Scotland (RBS). Carlo has published many articles on various international and financial topics in many international journals. His main areas of focus were the payments, securities/derivatives, trade finance, supply chain finance, standards and cash management environment and its developments. He was also one of the editors of the third (2013) and fourth edition (2018) of the International Cash Management Handbook in which he has written a large number of chapters. Carlo is a member of the editorial board of the Henry Stewart Journal of Securities Operations & Custody. Since he left RBS, Carlo has remained very active. He is a frequent blogger on LinkedIn, Finextra TreasuryXL and Experfy, focusing on blockchain and distributed ledger technology.
