This is a chapter from the Token Economy book series. All subchapters are collapsed under their subchapter headings to make the page more readable. Find copyright information on this text and about the book an the end of the page.
<aside> 🦚 Decentralized finance (DeFi) is an umbrella term for a set of smart-contract-based applications where smart contracts replace many roles of classic financial intermediaries. Token transfers, tokenized credit and lending services, and other financial services are automatically executed by a public blockchain infrastructure based on the conditions formalized in smart contracts. A growing body of tokenized asset classes are becoming accepted as collateral in DeFi applications, including real-world assets, which in turn could potentially convert many assets or access rights of the real world into so-called “bankable funds.” This chapter will outline how the tokenization of more and more asset classes, combined with a growing body of composable plug-and-play financial products, might challenge our current definition of what constitutes money, finance, and the real economy.
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<aside> 📖 This is an excerpt from the book “Token Economy: Money, NFTs & DeFi”
RIGHTS Copyleft 2023, Shermin Voshmgir Creative Commons CC-BY-NC-SA
NON-COMMERCIAL USE This license only allows reusers to distribute, remix, adapt, and build upon the material in any medium or format for noncommercial purposes only, so long as attribution is given to the creator. If you remix, adapt, or build upon the material, you must license the modified material under identical terms.
COMMERCIAL USE For commercial use contact: [email protected]
BibTeX @book{title={Token Economy: Money, NFTs & DeFi}, author={Voshmgir, Shermin}, year={2023}, publisher={Token Kitchen} }
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