Decentralized finance (literacy) today and in 2034: Initial insights from Singapore and beyond

IF 4.6 2区经济学 Q1 BUSINESS, FINANCE

Emerging Markets Review Pub Date : 2025-10-01 DOI:10.1016/j.ememar.2025.101378

Daniel Liebau

引用次数: 0

Abstract

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. Financial institutions should prioritize DeFi Literacy. DeFi represents emerging market entry requiring organizational transformation, not just technological implementation. Recent SEC developments are broadly consistent with expert expectations.

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今天和2034年的去中心化金融（识字）：来自新加坡及其他地区的初步见解

去中心化金融将如何改变金融服务？运用新制度经济学和动态能力理论，采用非参数方法对109位专家的调查数据进行分析。专家来自传统金融、DeFi行业和学术界。由此产生了以下四点见解：到2034年，对人工智能的采用率期望从微不足道上升到43%，预计采用率至少会很高；专家预计，融合将取代颠覆，传统金融最有可能拥抱DeFi；面向客户功能前的后台转换；战略能力超越了金融行业的具体技能和技术技能。金融机构应优先考虑DeFi素养。DeFi代表新兴市场进入需要组织转型，而不仅仅是技术实施。美国证交会最近的进展大体上符合专家的预期。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Emerging Markets Review Multiple-

CiteScore

7.10

自引率

4.20%

发文量

审稿时长

100 days

期刊介绍： The intent of the editors is to consolidate Emerging Markets Review as the premier vehicle for publishing high impact empirical and theoretical studies in emerging markets finance. Preference will be given to comparative studies that take global and regional perspectives, detailed single country studies that address critical policy issues and have significant global and regional implications, and papers that address the interactions of national and international financial architecture. We especially welcome papers that take institutional as well as financial perspectives.