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Cryptocurrencies and Decentralized Finance (DeFi): Revolutionizing the Global Financial Landscape
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Author(s): R Velmurugan (Karpagam Academy of Higher Education, Coimbatore, India), J Sudarvel (Karpagam Academy of Higher Education, Coimbatore, India)and Ravi Thirumalaisamy (Modern College of Business and Science, Oman)
Copyright: 2026
Pages: 20
Source title:
Technology, Geopolitics, and the Transformation of International Political Economy
Source Author(s)/Editor(s): Kittisak Wongmahesak (North Bangkok University, Thailand), Thanaporn Sriyakul (North Bangkok University, Thailand), Uday Kumar Ghosh (Lincoln University, USA)and Ismail Suardi Wekke (Institut Agama Islam Negeri Sorong, Indonesia)
DOI: 10.4018/979-8-3373-1727-4.ch007
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Abstract
Cryptocurrencies and DeFi (decentralized finance) have made decentralization possible in the international finance ecosystem, assisted by the blockchain technology. With this, we can do it with secure, transparent transactions without intermediaries, something which gives the user financial autonomism. On decentralized platforms, smart contracts for DeFi users provide access to lending, borrowing, liquidity services, and other exchanges. The revolution is lead by Bitcoin and Ethereum, especially in coming to countries where banks don't exist or are very hard to find, with lower fee, more accessibility. With the market volatility and the security concerns, such as vulnerabilities in the smart contracts, strong risk management and strong security is necessary. The biggest problems that DeFi platforms need to overcome are regulated by Uniswap, Aave, and Compound. But DeFi's growth will come with sincere collaboration between developers, regulators, and those financial institutions that traditionally form a couple of the major aspect players.
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