Crypto markets may centralise power – BIS bulletin

- Central Banking Newsdesk
- 15 Dec 2021

Tweet
Facebook
LinkedIn
Save this article
Send to
Print this page

Crypto markets’ advocates claim they have created a “decentralised finance” structure, but they may actually centralise power, research published by the Bank for International Settlements finds.

In a quarterly bulletin article, Sirio Aramonte, Wenqian Huang and Andreas Schrimpf argue there is a “decentralisation illusion” at the heart of decentralised finance, or DeFi.

“The need for governance makes some level of centralisation inevitable and structural aspects of the system lead to a

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to print this content. Please contact info@centralbanking.com to find out more.

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email info@centralbanking.com

You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email info@centralbanking.com