The digitization of the financial services value chain has gathered pace due to the advent of the Covid-19 pandemic. It is mainly premised on automation of the investment process through the use of algorithmic tools and remote delivery of services via integrated platforms and apps. During the same period, we have witnessed the exponential growth of decentralised finance (DeFi) and the increased use of blockchain technology. Decentralized finance utilizes smart contracts to create protocols that replicate existing financial services in a more open and transparent way. Despite the risks posed by DeFi, it has the potential to contribute to a more efficient, transparent and accessible financial system. The current regulatory framework needs to become more proactive in promoting innovation while tackling the risks posed by the emergence of DeFi.
Speaker: Dr. Alexandros L. Seretakis Assistant Professor in Law, Trinity College Dublin, The University of Dublin, IALS Visiting Research Fellow.
Chair: Dr Mahmood Bagheri, Lecturer in Law (IALS)