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| Main Author: | |
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| Format: | Preprint |
| Published: |
2024
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| Subjects: | |
| Online Access: | https://arxiv.org/abs/2410.14173 |
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| _version_ | 1866916865714946048 |
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| author | Liebau, Daniel |
| author_facet | Liebau, Daniel |
| contents | How will Decentralized Finance transform financial services? Using New Institutional Economics and Dynamic Capabilities Theory, I analyse survey data from 109 experts using non-parametric methods. Experts span traditional finance, DeFi industry, and academia. Four insights emerge: adoption expectations rise from negligible to 43% expecting at least high adoption by 2034; experts expect convergence scenarios over disruption, with traditional finance embracing DeFi most likely; back-office transforms before customer-facing functions; strategic competencies eclipse DeFi-sector specific- and technical skills. This challenges technology-centric adoption models. DeFi represents emerging market entry requiring organizational transformation, not just technological implementation. SEC developments validate predictions. Financial institutions should prioritize developing strategic capabilities over mere technical training. |
| format | Preprint |
| id |
arxiv_https___arxiv_org_abs_2410_14173 |
| institution | arXiv |
| publishDate | 2024 |
| record_format | arxiv |
| spellingShingle | Decentralized Finance (Literacy) today and in 2034: Initial Insights from Singapore and beyond Liebau, Daniel General Finance How will Decentralized Finance transform financial services? Using New Institutional Economics and Dynamic Capabilities Theory, I analyse survey data from 109 experts using non-parametric methods. Experts span traditional finance, DeFi industry, and academia. Four insights emerge: adoption expectations rise from negligible to 43% expecting at least high adoption by 2034; experts expect convergence scenarios over disruption, with traditional finance embracing DeFi most likely; back-office transforms before customer-facing functions; strategic competencies eclipse DeFi-sector specific- and technical skills. This challenges technology-centric adoption models. DeFi represents emerging market entry requiring organizational transformation, not just technological implementation. SEC developments validate predictions. Financial institutions should prioritize developing strategic capabilities over mere technical training. |
| title | Decentralized Finance (Literacy) today and in 2034: Initial Insights from Singapore and beyond |
| topic | General Finance |
| url | https://arxiv.org/abs/2410.14173 |