TY - JOUR
T1 - Decentralised finance platform ecosystems
T2 - conceptualisation and outlook
AU - Eikmanns, Benedikt C.
AU - Mehrwald, Pascal
AU - Sandner, Philipp G.
AU - Welpe, Isabell M.
N1 - Publisher Copyright:
© 2023 Informa UK Limited, trading as Taylor & Francis Group.
PY - 2023
Y1 - 2023
N2 - This work contributes to architectural and economic understanding of a largely unexplored field of blockchain-based applications referred to as Decentralised Finance (DeFi). Merging technical and economic perspectives, we define DeFi as an ecosystem of decentralised applications which is built on top of permissionless smart contract platforms to mimic and extend traditional financial services. We frame DeFi as a research object in information systems (IS) and management-related platform literature. Further, we conceptualise DeFi as a platform economy within software ecosystems and in interdependence with exogenous factors. This enables us to identify three promising avenues for future research: (i) base layer blockchains as a platform for developers, (ii) the dApp economy of platform modules, and (iii) the diffusion and adoption of DeFi.
AB - This work contributes to architectural and economic understanding of a largely unexplored field of blockchain-based applications referred to as Decentralised Finance (DeFi). Merging technical and economic perspectives, we define DeFi as an ecosystem of decentralised applications which is built on top of permissionless smart contract platforms to mimic and extend traditional financial services. We frame DeFi as a research object in information systems (IS) and management-related platform literature. Further, we conceptualise DeFi as a platform economy within software ecosystems and in interdependence with exogenous factors. This enables us to identify three promising avenues for future research: (i) base layer blockchains as a platform for developers, (ii) the dApp economy of platform modules, and (iii) the diffusion and adoption of DeFi.
KW - Decentralised Finance
KW - conceptual analysis
KW - digital economy
KW - technology and innovation studies
UR - http://www.scopus.com/inward/record.url?scp=85145950515&partnerID=8YFLogxK
U2 - 10.1080/09537325.2022.2163886
DO - 10.1080/09537325.2022.2163886
M3 - Article
AN - SCOPUS:85145950515
SN - 0953-7325
JO - Technology Analysis and Strategic Management
JF - Technology Analysis and Strategic Management
ER -