A Practitioner's Guide to Decentralized Finance (DeFi), Digital Assets, and Distributed Ledger Technology
In Decentralizing Finance: How DeFi, Digital Assets and Distributed Ledger Technology Are Transforming Finance, blockchain and digital assets expert Kenneth Bok offers an insightful exploration of the current state of decentralized finance (DeFi). As distributed ledger technology (DLT) increasingly optimizes and democratizes financial ecosystems worldwide, this book serves as a comprehensive guide to the most salient aspects of the ongoing transformation.
The text delves into both crypto-native DeFi and DLT applications in regulated financial markets, providing:
- Comprehensive analysis of crypto-native DeFi across key areas such as its competitive landscape, infrastructure, financial instruments, activities, and applications
- Coverage of key risks, mitigation strategies, and regulatory frameworks, analyzed through the perspective of international financial standard-setting bodies
- Insight into how DLT is reshaping traditional financial systems through innovations like central bank digital currencies (CBDCs), tokenized assets, tokenized deposits, and institutional-grade DeFi platforms
In a world where financial technology is rewriting the fundamental code of digital currency, the future of money is undeniably DLT-centric. How will this seismic shift interact with existing financial infrastructures? Can decentralization and traditional banking coexist and potentially synergize? This book endeavors to answer these pressing questions for financial professionals navigating these transformative times.
Authored by a former Goldman Sachs trader, past Head of Growth at Zilliqa, and an early Ethereum investor with extensive experience in both traditional finance and the crypto ecosystem, Decentralizing Finance provides you with an insider's perspective on the revolution that is DeFi.
Praise for DECENTRALIZING FINANCE
"In a space that is often fast-moving and difficult to fully understand, Bok successfully demystifies many of the key questions that surround DeFi. At R3 we have witnessed first-hand the evolution of emerging innovations such as CBDCs and tokenization, and what this book accomplishes is a detailed overview of the convergence between these new economic models and traditional financial frameworks. The book's thoughtful breakdown of important industry initiatives, such as the Regulated Liability Network, enables readers to gain detailed insight into DeFi, without being overwhelmed by its complexities. Overall, Decentralizing Finance is a must-read for those interested in the impact of DLT and digital assets on today's financial services industry."
-Todd McDonald, Co-Founder and Chief Strategy Officer, R3
"In the rapidly changing world of DeFi, Kenneth's book is both relevant and timely, offering authoritative insights on the industry's current evolution. In sharing his vision for the future, he brings valuable perspectives from deep experience in digital assets and blockchain as an investor, trader and more. Whether you are a crypto-native or just starting out in DeFi, I recommend this as an essential and informative read."
-Darius Sit, Founder & CIO, QCP Capital
"Kenneth Bok's book provides a solid overview of the fast-moving Decentralized Finance ecosystem. In particular, he introduces critical developments within and outside the regulatory perimeter. But Ken does not stop there; he also shares his future vision for DeFi - pick up a copy to find what it is. I recommend his book to anyone who wants to understand DLT & blockchain-based finance and is overwhelmed by the pace of industry developments and the quantity of academic papers released daily. Ken uniquely contributes to our understanding of DeFi by delivering the future standard introductory work for industry practitioners."
-Daniel Liebau, Affiliated Faculty, Singapore Management University
"Kenneth Bok offers a comprehensive overview of the DeFi landscape by clearly defining the various layers of the application and infrastructure stack, presenting the key use cases and the differing mechanisms, and relating them to the current traditional finance and regulatory systems. Kenneth also offers glimpses into how factors such as government and market competition will change the landscape moving forward. This book should be read by anyone looking to understand DeFi from a theoretical and practical lens, as well as the associated benefits and risks of participating directly in the ecosystem."
-Lasse Clausen, Founding Partner, 1kx
