October 2025
Intermediate to advanced
400 pages
10h 29m
English
book
Decentralized Finance and the End of Traditional Banking
by Jyoti Verma, Amandeep Singh, Gagandeep
Content preview from Decentralized Finance and the End of Traditional Banking
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16Future of Decentralized Finance—Disruption of the Global Banking System
Divya Bansal1* and Naboshree Bhattacharya2
1Amity University, Noida, India
2Amity University, Jharkhand, India
Abstract
Decentralized finance (DeFi) has emerged as a formidable contender challenging the established norms of the financial industry. It employs advanced solutions to decentralize banking and industry paradigms offering financial services universally. Its primary aim is to enhance financial inclusion by revolutionizing lending and borrowing mechanisms. There is speculation that if the traditional banking system remains unchanged, DeFi could effectively supplant banks, which currently act as intermediaries in transactions. Should people opt out of depositing money in banks, it could potentially lead to the extinction of these institutions. To address this scenario, central banks are adopting CBDC (Central Bank Digital Currency) designed to enhance the effectiveness of monetary policy. CBDC operates on an account-based system, accrues interest, and functions as a repository of value, a medium of exchange, and a stable unit of measurement. However, the adoption of CBDC might diminish deposits and market share for smaller banks.
Keywords: Decentralized finance, DeFi, cryptocurrency, intermediation, blockchain, financial system, traditional banking, central bank
16.1 Introduction
Decentralized Finance (DeFi) is a new and experimental technology with a thorough understanding of its benefits and ...
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