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| 02041nam 2200361zi 4500 |
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| 001 | 9.916421 |
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| 003 | CaOODSP |
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| 005 | 20221107183433 |
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| 006 | m o d f |
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| 007 | cr |n||||||||| |
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| 008 | 221020t20222022oncd ob f|0| 0 eng d |
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| 040 | |aCaOODSP|beng|erda|cCaOODSP |
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| 043 | |an-cn--- |
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| 086 | 1 |aFB3-5/2022-43E-PDF |
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| 100 | 1 |aChiu, Jonathan, |eauthor. |
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| 245 | 10|aGrasping de(centralized) fi(nance) through the lens of economic theory / |cby Jonathan Chiu, Charles M. Kahn and Thorsten V. Koeppl. |
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| 264 | 1|a[Ottawa] : |bBank of Canada = Banque du Canada, |c2022. |
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| 264 | 4|c©2022 |
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| 300 | |a1 online resource (ii, 32 pages) : |bcharts. |
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| 336 | |atext|btxt|2rdacontent |
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| 337 | |acomputer|bc|2rdamedia |
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| 338 | |aonline resource|bcr|2rdacarrier |
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| 490 | 1 |aStaff working paper = Document de travail du personnel, |x1701-9397 ; |v2022-43 |
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| 500 | |a"Last updated: October 11, 2022." |
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| 504 | |aIncludes bibliographical references (pages 27-29). |
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| 520 | |a"In this article, we use a simple stylized model of collateralized lending to analyze the value proposition and limitations of decentralized finance (DeFi). DeFi uses a decentralized ledger to run smart contracts that automatically enforce the terms of a lending contract and safeguard the collateral. DeFi can lower the costs associated with intermediated lending and improve financial inclusion. Limitations are the volatility of the crypto collateral and stablecoins used for settlement, the possible incompleteness of smart contracts and the lack of a reliable oracle. A proper infrastructure reducing such limitations could improve the value of DeFi"--Abstract. |
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| 650 | 0|aCryptocurrencies. |
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| 650 | 0|aLoans. |
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| 650 | 6|aCryptomonnaie. |
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| 650 | 6|aPrêts. |
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| 710 | 2 |aBank of Canada, |eissuing body. |
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| 830 | #0|aStaff working paper (Bank of Canada)|v2022-43.|w(CaOODSP)9.806221 |
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| 856 | 40|qPDF|s732 KB|uhttps://publications.gc.ca/collections/collection_2022/banque-bank-canada/FB3-5-2022-43-eng.pdf |
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